if I got a name change would smods be able to change it and include color codes? such as changing my name to ^18Playboy101 or something...
or would that cost extra if they could do it?

You cannot include color codes in your name. On the forum they won't render, and I'm reasonably sure that in-game it is impossible to log into an account which has a ^ in its name.

Additionally, smods can't change names, only admins.

thanks, what about changing one letter in the username? like from PlayBoy101 to Playboi101?

That would count as a full namechange costing 100k.
All info on name changes should be here: http://forum.toribash.com/showthread.php?t=343024

thanks