Red Hat/Centos

yum install ccze

Debian/Ubuntu

apt-get install ccze

Mac (using Homebrew)

brew install ccze
Usage
tail -f -n 100 /var/log/syslog | ccze

If you use this frequently, you might consider adding a tailc function to your shell rc file.

tailc () {
    tail $@ | ccze -A
}

Then use tailc just as you would tail.

tailc -F -n 50 /var/log/somelog.log
Confirm your edition with a simple command.
Ash Ash (341)
2 minutes

So you've got a machine running Ubuntu. If it's been a while since you set up Ubuntu (or maybe you're just curious), you probably need to check what version you're running.