We consider a recently introduced model of color-avoiding percolation defined as follows. Every edge in a graph $G$ is colored in some of $k\ge 2$ colors. Two vertices $u$ and $v$ in $G$ are said to be CA-connected if $u$ and $v$ may be connected using any subset of $k-1$ colors. CA-connectivity defines an equivalence relation on the vertex set of $G$ whose classes are called CA-components. We study the component structure of a randomly colored Erdős-Rényi random graph of constant average degree. We distinguish three regimes for the size of the largest component: a supercritical regime, a so-called intermediate regime, and a subcritical regime, in which the largest CA-component has respectively linear, logarithmic, and bounded size. Interestingly, in the subcritical regime, the bound is deterministic and given by the number of colors.