noun
colour of water
Refers to the natural colour of water, especially in rivers, lakes, or the sea. A somewhat literary or descriptive term.
この湖の水色は季節によって変わる。
The colour of the water in this lake changes with the seasons.
noun
waterside scenery
Refers to the scenery of rivers, lakes, or similar bodies of water. Rare standalone; more often encountered in literary or poetic contexts.
このあたりの水色は昔から多くの歌に詠まれてきた。
The waterside scenery around here has been celebrated in poetry since ancient times.
noun
This meaning is normally associated with the reading みずいろ, not すいしょく. Cross-referenced with 水色 (みずいろ). When read as すいしょく, this sense is non-standard and may cause confusion.
See also: 水色 (みずいろ)
「水色」を「すいしょく」と読んで「みずいろ」の意味で使うことはまずない。
It is almost never the case that 水色 is read as すいしょく and used to mean 'light blue'.