color-tail is a simple utility which works just like tail -f but adds color codes to tailed files so it's easy to see where the lines are coming from from.
That's it.
If this is not enough for an explanation, see this ASCII-cast or take a look at this screenshot:
ruby-1.9+
gem install color-tail
`ctail path-to-file-1 path-to-file-2 #etc
Buy Me A Beer If We Ever Meet IRL Licence
Jordan Sissel for eventmachine-tail Florian Frank for term-ansicolor