Here is the code:

        
  
Change number depending on how fast you want the colors to change     
//  var nIntervId;
 
    function changeColor() {
      nIntervId = setInterval(flashText, 100);
    }
 
    function flashText() {
      var oElem = document.getElementById('my_box');
      oElem.style.color = oElem.style.color == 'green' ? 'pink' : 'green';
      // 'green' ? 'pink' : 'green' is a ternary operator.
    }
 
    function stopTextColor() {
      clearInterval(nIntervId);
    }
// end of loop


        
      

Here is an example of the demo in action:

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