SamMobile is reporting that in the first week of sale, the Galaxy Gear will be available in standard white and black, but also in grey and orange. In the second week of sale, Samsung will introduce a special "white gold" color, which may or may not be a regional exclusive, so there's no guarantee that we'll actually see that one in the U.S.. It is likely that Samsung will offer even more colors later on, but nothing is confirmed.
The reports are saying that Samsung will announce the Gear at IFA on September 4th, and it will be released for sale in late September/early October. Still no word on pricing.