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Parambassis ranga, a.k.a Indian glassfish, glassfish or glass perch. From the looks of the fish in yer pic, the colors in the fish are a dye injected into the body cavities of the fish, which requires the fish to be injected multiple times to fill each cavity. In some species, the fish are actually dipped in a mildly caustic solution to remove the slime coat and then dipped in dye. In either case, it is an inhumane practice.
Here's a link to an article on my home forum 'bout the practice: Dyed Fish
The end result in either case is stress and an increased susceptibility to a variety of diseases. Haven't seen a dyed fish in quite a while, most of the retailers I know took a beating for supporting the practice and quickly stopped stocking 'em when aquarists became educated and started opposing their sale.
If they recover from the process, they can lead normal lives. Eventually the dye is absorbed and disappears.
Glad yer guy has done well. He's one of the lucky ones, however. The mortality rates before recovering from either process are high, a relatively small percentage of fish recover, and overall it's a cruel practice.
They're not as "bright", but these fish are attractive in their own right without the dye. IME they don't travel well and tend to be a bit touchy when first introduced to an aquarium, so need a bit of TLC when ya first get 'em. Once established though, they're hardy and eat just 'bout anything. They can live in brackish water, but contraray to popular dogma they are not primarily brackish fish. A goup needs a large tank for their size. Males become teritorial and will harass each other if there aren't enugh hiding places.