Yes, you are right. Hobbits preferred to clothe themselves in warm colors reminiscent of the seasons. Burgundy, deep orange, pine green, all were worn.
If you are looking for multicolored that makes your eyes pop initially, I would check out the Fine Shirt and Pants and the Fancy Shirt and Pants. Both are available from outfitters, Bree, I think. From the hobbit-angle side of things, I would pick a plain pair of pants (Resilient Trousers, Quilted Leggings, etc.), mess around with dyes, and pick a nice looking chestpiece to match. Unfortunately LotRO does not have tux-like coats layered over shirts yet. You could also visit some cosmetic outfit blogs, like The Starry Mantle, Cosmetic Lotro, Wandering Around Arda, and Material Middle Earth. Click on the hobbit tag or minstrel tag somewhere on the site and look for inspiration.
From the minstrel point of view, I instantly think ROBES. Lots and lots of ROBES. Fortunately, many robes in LotRO have very nice colors. Check the AH a lot, and use the Dressing Room (ctrl + shift + left click on pic of armour) to preview the stuff in Light Armour Chest. Two of my favorite robes are the Ceremonial Robe of the Seven Stars (Annuminas light) and the Tawarwaith Robe (Malledhrim light). Mess around with dyes and just look around. You'll find something. Happy outfitting
Night is falling,
So ends this day.
The Road is now calling
And I must away.