How do I change font color of only part of the text?

Hello all,

I was wondering if there is a way to change the font color of text one character at a time? For example, the word "Hello" would start all black, then the H would turn orange, the "ello" would still be black. After One second the "He" would be orange, the rest still black and so on...

Is there a way to do this?

First thing that comes to mind would be to either create an animation out of it using sprites, or dynamically generate and place text objects that contain one letter each, then you can manipulate them individually.

Use the plugin Tag Text