$re = '/(?<=\/\/\s*COLORS)[\r\n]+(.*)(?=\/\/\s*END\s*COLORS)/ms';
$str = '// COLORS
$nipiter-green : #158C3F;
$green : #048e3c;
$light-green : #C4E2CF;
$nipiter-red : #e11b1c;
$dark-red : #a11b1b;
$black : #000000;
$dark-gray : #4c4c4c;
$gray : #e4e4e4;
$white : #ffffff;
$transparent-white : rgba(255, 255, 255, 0.59);
$feminist-purple : #2a1736;
$yellow : #ffff73;
$twitter-blue : #5a8dbd;
$facebook-blue : #184f83;
// END COLORS';
preg_match_all($re, $str, $matches, PREG_SET_ORDER, 0);
// Print the entire match result
var_dump($matches);
Please keep in mind that these code samples are automatically generated and are not guaranteed to work. If you find any syntax errors, feel free to submit a bug report. For a full regex reference for PHP, please visit: http://php.net/manual/en/ref.pcre.php