The variable color LED optical source comprises first, second, and third LEDs, each disposed to generate a linearly polarized optical signal; a first beam splitter cube that is optically coupled to the first and second LEDs; a first half-wave plate that is optically coupled to the first beam splitter cube so that it is capable of rotating the polarization orientation of an optical signal emitted from the first beam splitter cube; a second half-wave plate that is optically coupled to the third LED so that it is capable of rotating the polarization orientation of the third optical signal; and a second beam splitter cube that is optically coupled to the first and second half-wave plates so that the second beam splitter cube is capable of emitting a fourth optical signal.