According to this file, it is a class I misdemeanor for those under 21 to drink. But there are exceptions, such as religious purpose, as part of a curriculum at a college or university, or with consent and in the presence of a parent or guardian on private property.
Also "There is no specific law in place prohibiting an adult from allowing alcohol possession or consumption by individuals under the age of 21 on a premise under his/her control in Colorado." More can me found in this PDF from the Centers for the Application of Prevention Technologies.
http://captus.samhsa.gov/southwest/documents/ColoradoLaws-StateProfile.pdf Colorado law requires that wine be sold in containers of at least 24 ounces and spirits in containers at least a fifth of a gallon. But, at the same time, it also decrees that no alcohol beverage can be stored in hotel minibars in anything larger than miniature containers!

