Each member has a specific color assigned to them. They have introduced their color differently in separate interviews, but below is the most frequently described color(s).
Right after Produce 48 was finished filming, the group immediately started activities together.
They official debuted on October 29, 2018 with their debut album COLOR*IZ and the main single, "La Vie En Rose".
The group also filmed a debut showcase on October 29, 2018 called IZ*ONE SHOW-CON | COLOR*IZ that was live-streamed on YouTube by Mnet.
On April 29, 2021, IZ*ONE officially disbanded after the end of their contract. All the members returned to their respective agencies.
Controversy
See: Mnet Vote Manipulation Investigation
In September of 2019, the vote rigging allegations became more popular as police started official investigations into the Produce series. Due to the allegations, and the eventually admittance of the show's PD, IZ*ONE delayed their comeback with BLOOM*IZ until further notice. After a long wait and many trials later, Off The Record announced in early 2020 that the group would be making their official comeback on February 17, 2020.
* BLOOM*IZ was originally set to be released on November 11, 2019. However, due to the vote rigging scandal the release was delayed and pushed back to February 17, 2020.