Texturing a cube.. noob?

Hello, I am tryiing to texture or rather just apply a colour to a cube that I created via
GameObject → Create Other → Cube

However it seems the settings I need are greyed out?

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That’s because the settings you’re trying to edit belong to the Default-Diffuse material, which is a built-in material used in Unity in lieu of a custom one assigned by the user, when creating primitives like cubes and spheres.

Create a new material yourself and assign that material to the Mesh Renderer instead, then you’ll be able to edit those settings.