Winter #ue4jam: February 8-11th - THEME: ON THIN ICE

I have a possibly stupid question but this will be my first game jam so please forgive me if it is. When I make my models in blender I apply basic colors to them before I import them in, and the engine recognizes them and applies basic color to the models. Is this considered “Default Material” or does that literally mean the basic material grey most things spawn in? Thank you in advance.