Multiple text colors in one image using imagettftext

Question

I am trying to output some text using imagettftext. I can do this easily enough to get text that is all one color. What I would like to do is have individual words be different colors. Is this possible using this function? My other thought was to output individual words as separate images and concatenate them or place them side-by-side on my final output, but it would be much easier if the use of more than one color in imagettftext were possible. I am trying to end up with an image with a transparent background that I can place on a .pdf I'm generating.