This article takes the national intangible cultural heritage, Liangping woodblock New Year paintings, as an example. From the perspective of intangible cultural heritage inheritance, it focuses on the protection of its unique color techniques and the design of cultural and creative products. This article reviews the semi-printed and semi-painted craftsmanship of Liangping woodblock New Year paintings and its color system characteristics, analyzing the cultural connotation and visual expressiveness of high saturation and strong contrast colors. It points out the problems existing in the inheritance of Liangping woodblock New Year paintings. The article proposes a cultural and creative design method based on "intangible cultural heritage as the foundation, innovation as the application," and discusses strategies such as extracting core colors, transforming cultural symbols, and integrating them with real-life scenarios, analyzing them in conjunction with existing products. It aims to achieve cultural inheritance and regeneration of Liangping woodblock New Year paintings through systematic color technique protection, innovative cultural and creative product development, and diverse inheritance methods such as education, enterprises, and digitalization. It also provides an effective reference for the inheritance and protection of intangible cultural heritage.