This is CCZE, a fast log colorizer written in C, intended to be a
drop-in replacement for colorize (http://colorize.raszi.hu).
CCZE is a robust and modular log colorizer with plugins for apm, exim, fetchmail, httpd, postfix, procmail, squid, syslog, ulogd, vsftpd, xferlog, and more.
# yum install ccze (Red Hat/CentOS) # apt-get install ccze (Debian/Ubuntu)
tail -f -n 50 /var/log/syslog | ccze
Output is really nice as shown here: