YOu will escape the quotes using the "\" backslash to indicate the very next instance of quotes is to be included within the function, rather than to terminate the function.
echo "<a href=[/COLOR]"http://www.google.no[/COLOR]">Google</a>";
or use single quotes, which is easier for this:
echo '<a href="http://www.google.no">Google</a>';
edit: Looks like you beat me to it, kev!