Original description as Chromis multicolor:
- Schoeller, C. H. 1903. "Ein neuer Chromis". Blätter für Aquarien- und Terrarienkunde. v. 14 (no. 14), pp. 185-187; (no. 15), pp. 203-206 (crc00168)
Conservation: Pseudocrenilabrus multicolor is evaluated by the international union for the conservation of nature in the iucn red list of threatened species as (LC) least concern (2006). In the IUCN Red List it is treated as to include all populations ever assigned o this species. The typical population is threatened by increasing pollution (Freyhof, 1989).