Two-toned horses, also known as roans, are horses that have a coat of two different colors. Roans are characterized by a mixture of white and any other color, usually red or bay. The white hairs are intermingled with the other color, giving the horse a mottled appearance. Roans are often mistaken for grays, but the difference is that grays have a white hair base that gradually darkens over time, while roans remain two-toned throughout their lives.