Create torus with different colored segments

As I understand, there is no easy way to create a torus in Unity compared to openGL. I found the following code from http://forum.unity3d.com/threads/8487-Torus-in-Unity that creates a torus:

 using System;
 using UnityEngine;
 using System.Collections;
 
 [RequireComponent(typeof(MeshFilter),typeof(MeshRenderer))]
 public class Primitives : MonoBehaviour {
 
         private static float Pi = 3.14159f;
 
         public float segmentRadius = 1f;
         public float tubeRadius = 0.1f;
         public int segments = 32;
         public int tubes = 12;
 
         void Start() {
             Torus();
         }
     
     void Update()
     {
         //transform.Rotate(Time.deltaTime,1f,10);
 
     }
 
         public void Torus() {
              // Total vertices
             int totalVertices = segments * tubes;
 
             // Total primitives
             int totalPrimitives = totalVertices * 2;
 
             // Total indices
             int totalIndices = totalPrimitives * 3;
 
              // Init vertexList and indexList
             ArrayList verticesList = new ArrayList();
             ArrayList indicesList = new ArrayList();
 
             // Save these locally as floats
             float numSegments = segments;
             float numTubes = tubes;
 
             // Calculate size of segment and tube
             float segmentSize = 2 * Pi / numSegments;
             float tubeSize = 2 * Pi / numTubes;
 
             // Create floats for our xyz coordinates
             float x = 0;
             float y = 0;
             float z = 0;
 
             // Init temp lists with tubes and segments
             ArrayList segmentList = new ArrayList();
             ArrayList tubeList = new ArrayList();
 
                // Loop through number of tubes
             for (int i = 0; i < numSegments; i++)
             {
                 tubeList = new ArrayList();
 
                 for (int j = 0; j < numTubes; j++)
                 {
                     // Calculate X, Y, Z coordinates.
                     x = (segmentRadius + tubeRadius * Mathf.Cos(j * tubeSize)) * Mathf.Cos(i * segmentSize);
                     y = (segmentRadius + tubeRadius * Mathf.Cos(j * tubeSize)) * Mathf.Sin(i * segmentSize);
                     z = tubeRadius * Mathf.Sin(j * tubeSize);
 
                     // Add the vertex to the tubeList
                     tubeList.Add(new Vector3(x, z, y));
 
                     // Add the vertex to global vertex list
                     verticesList.Add(new Vector3(x, z, y));
                 }
 
                 // Add the filled tubeList to the segmentList
                 segmentList.Add(tubeList);
             }
 
             // Loop through the segments
             for (int i = 0; i < segmentList.Count; i++)
             {
                 // Find next (or first) segment offset
                 int n = (i + 1) % segmentList.Count;
 
                 // Find current and next segments
                 ArrayList currentTube = (ArrayList)segmentList[i];
                 ArrayList nextTube = (ArrayList)segmentList[n];
 
                 // Loop through the vertices in the tube
                 for (int j = 0; j < currentTube.Count; j++)
                 {
                     // Find next (or first) vertex offset
                     int m = (j + 1) % currentTube.Count;
 
                     // Find the 4 vertices that make up a quad
                     Vector3 v1 = (Vector3)currentTube[j];
                     Vector3 v2 = (Vector3)currentTube[m];
                     Vector3 v3 = (Vector3)nextTube[m];
                     Vector3 v4 = (Vector3)nextTube[j];
 
                     // Draw the first triangle
                     indicesList.Add((int)verticesList.IndexOf(v1));
                     indicesList.Add((int)verticesList.IndexOf(v2));
                     indicesList.Add((int)verticesList.IndexOf(v3));
 
                     // Finish the quad
                     indicesList.Add((int)verticesList.IndexOf(v3));
                     indicesList.Add((int)verticesList.IndexOf(v4));
                     indicesList.Add((int)verticesList.IndexOf(v1));
                 }
             }
             
             Mesh mesh = new Mesh();
 
             Vector3[] vertices = new Vector3[totalVertices];
             verticesList.CopyTo(vertices);
             int[] triangles = new int[totalIndices];
             indicesList.CopyTo(triangles);
             mesh.vertices = vertices;
             mesh.triangles = triangles;
         
             mesh.RecalculateBounds();
             mesh.Optimize();
             MeshFilter mFilter = GetComponent(typeof(MeshFilter)) as MeshFilter;
             mFilter.mesh = mesh;
         }
 }

Right now, the whole torus is in one color. Is there a way to assign different colors to the segments as in http://www.paulsprojects.net/tutorials/simplebump/simplebump2.jpg? In this photo only two colors have been used. I want a unique color for each segment.

Thanks.