Feng shui is a Chinese practice of "geomantics" in which a space is configured to harmonize the furnishings with the spiritual forces that inhabit the space. Feng shui is supposed to create energy and flow through your home and increase your health and happiness. All aspects of your home are said to be affected by feng shui, and especially your front door. Typically in China, front doors face south, which is why they are red, but in America our doors face many different directions so the color of your front door will differ.
Mouth of the Ch'i
Your front door is what is known as the Mouth of the Ch'i. The Ch'i is the energy that flows throughout the home. Your front door is where the Ch'i primarily enters. This means that all factors, including color and position of the door, are important in optimizing your Ch'i.
Door Usage
Make sure to use the front door more than another side door. This will optimize your Ch'i. If you have a side door, block it off with shrubs or trees so visitors will know which is the front.
After time the door will begin to fade and may chip. Painting a fresh coat of the color will energize your Ch'i instead of making it dull, like the previous door color.
Color
The direction your door faces will be a big determinant of what color you should paint it. North-facing doors should be a dark color like blue, black, or white. Doors that face northeast should be orange, purple or yellow. East-facing doors are best in green, blue or turquoise. South-facing doors should be red, pink or purple. Doors that face west should be pink, peach, apricot or orange. Doors that face west and northwest should be either gold, silver, yellow or white. Each direction is associated with either yin or yang, and these color choices ensure balance between the yin and yang.
Materials
In feng shui, the balance of earthly materials is important. For this reason, the color of the door matters as does the material the door is made from. Doors that face north, east, southeast, and south should all be made of wood. Other doors can be made of metal or what ever other material you would like.
Considerations
While these are the standard colors for the various directions, there is a chance that your door should be something different. A professional feng shui consultant can tell you exactly what other factors are infringing on your Ch'i and how to fix them. Keep your door in good condition at all times, as it is the portal to your inner home.