No, the problem is with your quotes. if you start a string with ", then you can't have any "s in the string, because php thinks you're ending the string. Escape the "s with .
example:
print "<FO NT SIZE=\"3\" COLOR=\"#FF0000\">Hello</FO NT>";
or you could use sigle quotes on the outside:
print '<FO NT SIZE="3" COLOR="#FF0000">Hello</FO NT>';
NOTE: I have spelled font with a space, so don't copy and paste it!