How to Change Color Labels for a Personal Google Calendar?

If this isn't the right forum, please let me know!

This is a question that has been driving me bonkers for some time.  So I'm left with the question, is this even doable in a personal Google Calendar, or does it require a paid version??

I use my personal calendar to schedule everything from dinner dates to sports outings etc.  My wife alot of times will schedule stuff for me, but never knows which color to use because they all have names like "Graphite", "Banana", "Basil", "Peacock", etc.

I would like to change those labels for the colors so that the gray/graphite would be "Softball League".  Or change say Basil to "Personal Dinner Dates".

Is that even possible in a personal Google account???