Updating a column's contents to the contents of another table's column, where both tables are linked by an ID

How do you update a column's contents to the contents of another table's column, where both tables are linked by an ID?

E.g.:

TABLE1.ID
TABLE1.COLOR TABLE2.ID
TABLE2.COLOR and I want to set TABLE1.COLOR to be the same value as TABLE2.COLOR whenever TABLE1.ID = TABLE2.ID?

I realize that in many or all cases this will mean the data is not normalized, but is there another way (e.g., using just SQL) to do this besides the following PL/SQL code:

CURSOR TABLE2_COLORS_CUR IS
SELECT T1.ROWID, T2.*
FROM TABLE1 T1, TABLE2 T2
WHERE T1.ID = T2.ID; FOR rec IN TABLE2_COLORS_CUR
LOOP
  update TABLE1

	set COLOR = rec.COLOR
	where rowid=REC.rowid