Ghost Rider's more of a leather-clad biker than a cowboy. But DC also has Jonah Hex, although he doesn't really have anything in common with Crimson Cowboy.
For those of us not versed, can someone provide a list of these color codes? The ones which pop into my head when I think of the idea is "Why Run Backwards You'll Vomit" and "Better Be Right Or Your Great Big Vacation Goes Wrong". Either of which is unlikely to be the color code in question.
There is no green threat level. Anything below yellow wouldn't normally call out to SAS; local law enforcement or a local superhero could take care of the threat (although SAS would respond to even a cat stuck in a tree if the local police/fire dept. requested aid--it's just that those sorts of things don't usually escalate to a full SAS alert and/or call for SAS backup).