Colors by names using xcolor, LaTeX Error: Option clash for package xcolor.

This should work. You need to use that because pandoc latex template already use xcolor.

In this minimal reprex it does.

---
output:
   pdf_document
header-includes:
   - \PassOptionsToPackage{x11names}{xcolor} 
---
 
The next text will have a color change **\textcolor{blue}{LIKE THIS}**, or like **\textcolor{purple}{THIS}** and finally as **\textcolor{red}{THIS ONE}** ...something else.