Changing the color of a static mesh in the editor?

How does one change the color of a static mesh, such as a sphere, in the Unreal Editor? This probably sounds easy, but I’m at a loss at what to do. Googling and the documentation, does not seem to help much. I attempted to change the color in paint (Under mode in the top left), but when I choose the color I want and point to the sphere, nothing happens. Am I missing something?

Using Unreal 4.9.2

to change the color of a mesh, create a new material, add the color you want and apply your material to the mesh. is that what you re looking for?

Yes, I want to know how one can change the default color of a sphere to blue or green for example.

How exactly does one go about doing this? Do I use blueprints? I flipped through the documentation under materials instancing, it explains what it is but does not give a step by step way of going about it. It just gives screenshots without any instruction on how to get to a specific point.

Or do I use paint under Modes? I’m at a loss.