Changing the TextColor3 in between characters

If the title sounded a bit vague, I am sorry. I will try to reiterate it. Say if I wanted to type in YouTube and wanted the “You” to be white and the “Tube” to be red. How would I accomplish this without using multiple TextLabels.

Try using Rich Text. You can enable it from Beta Features.

TextLabel.RichText = true
TextLabel.Text = "<font color = '#ffffff'> You</font><font color = '#ff0000'>Tube</font>"

Enable RichText (from beta features as well) and let it work.