Color Replacement Tool
You could have a lot of fun with this feature—applying the color change effect to similar-colored pixels so that Elements covers the area with a color wash. How much it changes is mostly influenced by the Tolerance slider.
Main image: I repainted the tops of the three women in just a few minutes with the Color Replacement tool. I thought that this was a pretty good result.
So, for example, if I want to replace blue with red, provided that all the blue pixels are the same value, the tool works well—but we all know that life in the digital editing realm is never like this, so that's why there's the Tolerance slider. This makes Elements a bit more or less sensitive when it's applying a color change. Increase the tolerance and it will apply the change to lighter and darker shades of blue. You have different brush styles to choose from: four different Blend Modes (I find Color works best), and the inevitable...