After having used docker-compose in the past, I really liked the way it showed output from all of the processes it runs. Here's a screenshot:

It would be nice if parallelshell allowed me to specify a "name" for each process and automatically choose a different color for each prefix. If a name was not given, it would fall back to using the name of the command that was run.
The npm package "concurrently" offers something similar, but the prefixes are not colored and the package itself does not handle colored output well in general.
I'd be happy to work on a pull request if this is something that would be useful!