Does a creature token created by a spell inherit the color of that spell?

A token's color is determined by its own characteristics at the time it's created, as established by the effect that creates it. If the creating effect specifies a color (e.g., 'create a 1/1 white Soldier token'), the token is that color. If no color is specified, the token's color is determined by its mana cost or color indicator, just like a normal permanent (CR 202.2, CR 111.4).

The color of the spell that creates the token is entirely irrelevant to the token's color. Spells and the permanents or tokens they create are separate objects with independent characteristics. There is no rule that transfers a spell's color to anything it creates (CR 109.3, CR 202.2).

It's also worth noting that tokens have no mana cost by default unless the effect defines one, so a token without a specified color or color indicator would be colorless — not the color of the spell that made it (CR 202.2a, CR 111.4).

Example: You cast Dragon Fodder, a red sorcery spell, which creates two 1/1 red Goblin creature tokens. The tokens are red because the card's effect explicitly states they are red Goblins — not because Dragon Fodder itself is a red spell. If the text instead said 'create two 1/1 Goblin creature tokens' with no color specified, those tokens would be colorless.