A series of water-soluble colored polyesters (polymeric dyes) were synthesized by interfacial polycondensation reaction of terephthaloyl chloride and various bisazodiols (monomeric dyes) that were derived from diarylidene cyclopentanone and diarylidene cyclohexanone by coupling with various diazonium salts of anthraquinone dyes containing the sodium salts of the sulfonic acid group. All the colored polyesters were characterized by their elemental analysis, IR and UV-visible spectroscopy, viscometry, solubility, and TGA. Color and dyeability of the polymeric dyes are discussed by comparing them with those of the corresponding monomeric dyes. The color fastness of the polymeric dyes show fair to very good fastness to Light and very good to excellent fastness to washing, rubbing, perspiration, and sublimation.