{% load widget_tweaks %}
{% csrf_token %} {% for colour_id, colour in colour_form.fields.colour.choices %}

: {% if colour_id == colour_form.colour.value %}selected{% else %}not selected{% endif %}

{% endfor %} {{ colour_form.colour|attr:"x-ref:colour_input" }}

Debug:

{% for colour_id, colour in colour_form.fields.colour.choices %} {% endfor %}
colour_id colour_form.colour.value
{{ colour_id }} {{ colour_form.colour.value }}