A bi-color LED (light emitting diode) is capable of emitting two different colors of light, typically red and green, rather than only one color. Also known as a dual color LED，housed in a 3mm or 5mm epoxy package.It has 3 leads,common Cathode or common Anode is available，a bi-color LED features two LED terminals, or pins, arranged in the circuit in anti-parallel and connected by a cathode/anode. Positive voltage can be directed towards one of the LED terminals, causing that terminal to emit light of the corresponding color; when the direction of the voltage is reversed, the other color is emitted.
In a bi-color LED, only one of the pins can receive voltage at a time. As a result, this type of LED frequently functions as indicator lights for a variety of devices, including televisions, digital cameras and remote controls.