We have realized a three‐layered multicolor organic electroluminescent device utilizing poly (9,9‐dihexylfluorene) and perylene derivatives as emission layers, with diamine derivatives as an electron blocking layer. Emission colors could be selected either blue or red by changing the polarity of the applied voltage. By driving with an ac biased electric field, both emission colors were observed and the intensity ratio of each emission color was modulated by the frequency of the applied ac field. ©1996 American Institute of Physics.