Example: my ~/.tcshrc reads:
set prompt = "[%M:%B%~%b]%# "
Which gives a prompt of the following format:
[amras.no-ip.local.:
~]%
[amras.no-ip.local.:
/var/run]%
Decompose it:
- The full host name is displayed. (%M)
- The path relative to ~/ is displayed. (%~)
- The path is bolded (%B %b).
- The prompt character is either '%' for normal users or 'root#' ... for root (%#).
Also. I have a dynamic DNS client with no-ip.com so I set my local host name to amras.no-ip.local for consistency.
Giaguara, if you'd like to append more info on setting colours would be

(I have bold colours configured in the terminal window settings, myself).