1) This is, as you've been already told, non-trivial. I shouldn't expect anyone providing you with a sample code here, at least not with useful sample code -- although there might be some heroic efforts, you never know.
2) As just one reason one this is non-trivial, consider this: you may reasonably want to change the bag color to red, but you'll probably want the letters on the handles to remain the exact same shade of yellow (IKEA's corporate Pantone 109). Maybe even the handles should remain blue, if they are Pantone 293 -- the second IKEA's corporate color?
3) Having said that, what you can try is convert the image into HSV
or Lab
or some other such space, select the appropriate colors in the HS
or ab
plane and shift this region into where you want it to be. Another (even more challenging) approach will be to select the object by what's called "magic wand tool" in Photoshop, and then applying color changes to your selection. In both cases you'll have to pay careful attention to the slightly bluish pixels around the edge of the bag.