An optical element includes a pair of a transparent substrate and a back substrate which face each other with a predetermined gap by a spacer, and, a pair of the first electrode and the second electrode, and a periodic structural body as an optical composition for a multi-color display and an electrolytic solution are disposed within the gap of the transparent substrate and the back substrate. Metal ions contained in the electrolytic solution are deposited as metal atoms onto the periodic structural body of the optical composition for a multi-color display, to change a structural color of the periodic structural body. Display that can display a color and has a memory property can be obtained.