The fabrication process of multi-color fancy leather includes the following steps: after lining sealing, bottom sealing and bottom injection, a piece of dry-finished leather receives swabbing treatment, i.e. according to templet patterns, different patterns are swabbed on the surface of the leather by means of pigments through adopting a piece of soft cloth so as to create the basic frame of the patterns; after drying, a user can use the soft cloth to swab the pigments on the leather surface evenly and mends threadbare and damaged parts during even swabbing; then, swabbing treatment is carried out again to strengthen the effect of the first swabbing treatment; finally, effect layer spray painting is completed. In addition, according to weight proportion, the pigments comprise transparent pigment paste 80, water 100, wax 30, antisticking agent 20, casein 50 and film former 200 and are dried for final fixation. The invention changes the status quo that leather is only of single color and double color and obtains the combining effect of three or more colors, thereby being flexible; meanwhile, the leather made through adopting the invention has stereoscopic impression and higher color transparency and satiation degree; moreover, the invention obtains great improvement in overall utilization rate and grade of leather and increases the colors of leather.