This hostel could not be more perfect!
For starters the neighborhood where it is located is so wonderful, and you have everything you might want within an short walk. If you want shopping, they've got it. If you want gelato(oh my God!), they've got it. If you want cafes, they've got them...pizza, supermarkets, money exchange, scooter rentals, nightlife(Rome's most famous night spot, Campo di Fiori is just a few blocks away)...well just about everything...
And the best part is that it is away from the Termini Station and near Vatican City(about 2 blocks down Castel S. Angelo)...
The hostel is so cute and small...The doors of the rooms are painted with different bright colors(hence, the name). It has about 4 or 5 rooms. It has Internet access, laundry facilities, kitchen, a small terrace and is incredibly clean. Also, the girl in charge of the hostel is super nice. She will give you suggestions on what to do and were to go, and if by any chance they are full she will do what she can to find you another place to stay...
Another very important aspect is that there is no lockout and no curfew...You could also arrange for walking and bike tours, and trips to Pompeii(which I didn't do).
I paid 20 USD in the triple room(which also had its own shower!) and I believe the dorms cost 15. It doesn't include breakfast.
Seriously, the only bad aspects that I could find are that the hostel is on a forth floor(there's no elevator) and that it didn't have a/c, but who really cares?
It wasn't a popular hostel when I went this past summer (July 2000), but I predict that in the next issues of the travel guides this is going to be very highly recommended, so maybe you'll be needing reservations...
But do try to stay here. You'll love it and will be raving about it, like I am...
Directions:
Take Metro A to Ottaviano
Exit at Giulio Cesare
turn right at Fabio Massimo
turn left at Via Boezio
No. 31