A multi-purpose reflective collar for attachment to a fire hydrant that increases the visibility of the hydrant to motorists and others, and that indicates the hydrant's flow rate, water source and pressure rating to firefighters and other first responders through the use of color coded reflective tape webs that can be removably attached to the collar. The multi-purpose reflective collar of the present invention is adjustable to accommodate fire hydrants of different shapes and sizes, and is useful in increasing safety and the efficiency of firefighting procedures.