So I downloaded this wordpress theme. Its awesome all but this ugly side color around the whole blog. How can I edit the color?
By ugly side color...do you mean the background? If so...just change the background of your body element in the style sheet (style.css) inside your theme.
here is some solution which i found somewhere now share with you below: http://www.solostream.com/2006/05/12/lesson-21-how-to-change-the-kubrick-header-color-background/
The two different shades of blue stripes on either side. It's the body's background. Change that in the style sheet. BTW...your thumbnail doesn't link to an actual image...just to the imageshack home page