Korean website http://underkg.com/ has leaked out pictures of the Nexus 5 retail box. (Pictures have since been removed). The pictures as seen below show off the Nexus 7-like colorful packaging but also show off what could be a white Nexus 5. When the Nexus 5 leaked on Google Play last night, the URL seen said that we were being directed to a black model, and since Google did release a white Nexus 4, I can see a white Nexus 5 going on sale.
The pictures were originally seen here but the page has been removed.