If you’re already using ECMAScript 5 in your code you can use that:
myArray
.map(function (element) {return element.color;})
.indexOf('blue');
Note that the support to these functions is a quite limited (they don’t work on Internet Explorer 8).
Also, if you’re in the future, and you’re using ES6 you can do that:
myArray.map((el) => el.color).indexOf('blue');
That’s the same as above, but smaller.