Given the high fluorescence quantum yield and modifiability of pyrene, we designed, synthesized and characterized three novel pyrene derivatives (1--3) bearing electron donors and/or acceptors. All of them exhibited strong emission bands at 470 nm, 527 nm, 606 nm in toluene and slightly red-shifted bands in the solid state due to intermolecular interactions in the densely packed state. In addition, these compounds exhibited high thermal stability with decomposition temperatures of up to 372 degrees C for 1, 462 degrees C for 2 and 429 degrees C for 3. Fabrication of organic light emitting diodes with 1-3 as active layers were conducted, and the devices gave multi-color fluorescence, including cyan, chartreuse and orange light with the CIE coordinates of (0.14, 0.35), (0.38, 0.59) and (0.58, 0.41), respectively.