During Naver 'V' live on April 27, IU thanked fans for giving great love to her new album and also explained how she came up with the title.
She said, "The reason why it's titled 'Palette' is because palette caught my attention more than the art itself during art class. It contains various colors and it's beautifully packed in its own unique ways and that became the start of this album."
She added, "Palette is considered as a tool but I believe it could be an art itself. Palette is also similar to me right now. That's also why I put the most effort in the title track 'Palette'."