Farangi is a term for foreigners in Persian, possibly linked to the Franks. The word in Arabic (faranji or ferenji) is similar and the word Farangi also appears in Amharic, Urdu and Hindi in reference to foreigners. It can have a derogatory connotation, and was used by people in British India to refer to the "white foreigners".
It usually denotes a person of a different colour, hence fa other and rangi colour.