This geeklet was originally authored by Jacob Salmela and this is where you will find the License file. For some reason, I could not upload the text file for it.
I have made some functionality changes to his work and added a couple of things as well.
I have a static IP assigned by my ISP and also use a VPN service. The color portion of this geeklet is to visually, and at a glance know if I am on my VPN or not, as well as if I am on my preferred wifi network. I am currently using this geeklet on a Late 2012 Mac Mini running OS X Yosemite 10.10. The colors are changeable to any of the colors listed in the variables section of the script; simply change the name of the color in the script and save for changes to take effect.
If you have any questions, or need any help, I will do my best to answer what I can. I have a limited knowledge, but did spend a lot of time tweaking this to my liking.