In this paper, we report an interactive color electroholography system using the field-programmable gate array (FPGA) technology and the time division switching method for color reconstruction. We implemented 30 dedicated-processors for a computer-generated hologram (CGH) into an FPGA chip, and the FPGA chip can generate full-parallax CGHs, on which we record color information for a color 3D object, faster than a personal computer. The time division switching method can reconstruct a color 3D object from the CGHs, to make use of the afterimage effect on human eyes. The system allows us to perform interactive operations for a reconstructed color 3D object using a keyboard, while viewing the reconstructed color 3D object.