You could get half the way with text/label color in the layer control, if you add html into the name parameter of a Marker or PolyLine:
import folium
print( folium.__version__)
import numpy as np
lon_ct = 50
fkt=10
num = 60
m = folium.Map((lon_ct, 6), tiles='stamentoner', zoom_start=6 )
lats = (lon_ct * np.cos(np.linspace(0, 2*np.pi, num))/fkt ) + lon_ct
lons = (lon_ct * np.sin(np.linspace(0, 2*np.pi, num))/fkt ) + 10
colors = np.sin(5 * np.linspace(0, 2*np.pi, num))
lgd_txt = '<span style="color: {col};">{txt}</span>'
for idx, color in enumerate( ['red', 'blue']): # color choice is limited
print(color)
fg = folium.FeatureGroup(name= lgd_txt.format( txt= color+' egg', col= color))
pl = folium.features.PolyLine(
list(zip(lats, lons - idx*fkt)),
color=color,
weight=10, )
fg.add_child(pl)
m.add_child( fg)
folium.map.LayerControl('topleft', collapsed= False).add_to(m)
m

Source: html_legend
If you know a bit HTML:
item_txt = """<br> {item} <i class="fa fa-map-marker fa-2x" style="color:{col}"></i>"""
html_itms = item_txt.format( item= "mark_1" , col= "red")
legend_html = """
<div style="
position: fixed;
bottom: 50px; left: 50px; width: 200px; height: 160px;
border:2px solid grey; z-index:9999;
background-color:white;
opacity: .85;
font-size:14px;
font-weight: bold;
">
{title}
{itm_txt}
</div> """.format( title = "Legend html", itm_txt= html_itms)
map.get_root().html.add_child(folium.Element( legend_html ))
Link basic
Link advanced
m.get_root().html
<branca.element.Element at 0x7f5e1ca61250>
https://pypi.org/project/branca/
- for further manipulations