Yes, it's another round of that classic guessing game - Animal, Vegetable, Mineral, Abstract [or any combination thereof]. This effort - '03/'04 should address any queries, but then again, may just serve to confuse and baffle which some might say is the point of the game. Patience, integrity and a decent search engine may be useful ....
(FGZstar) - Present in everyday life? In one sense, YES, but more realistically, well not really. (CdM) A naturally occuring phenomenon? Well, not really a phenomenon but an otherwise honest answer is YES. *some vigorous applause* (INJ) Ephemeral? Not really applicable but in some cases most certainly NO.
Then answer is one example of an abstract property of a material or imaginary object.
(CdM) - Experienced by the average Morniverser? - Mmm, difficult, that. You don't really experience it, but another answer could be YES. (INJ) Specifically to do with colour? - NO. (Softers) - If looks could kill - NO.
(FGZstar and irach) - NO, because CdM has it. Well done. It's an oblate spheroid, a sphere that's fat round the middle. The obvious example is the earth, but any planet really, because they all rotate. I hand the angular momentum to CdM.