Xanax comes in various colors, shapes, and dosages. The main types include green (2 mg), pink (0.5 mg), white (0.25-2 mg), yellow (2 mg), blue (1 mg broken in half), peach (0.25-0.5 mg), purple (0.25-0.5 mg), and liquid. Xanax contains the active ingredient alprazolam which is used to treat anxiety disorders. Common side effects include drowsiness, dizziness, and fatigue, while more serious side effects like suicidal thoughts are rare.