The term “picaresque” comes from the Spanish picaro, meaning rogue or scoundrel. The roguish protagonist roams from episode to episode, viewing events and getting in and out of trouble without growing or learning (much) in the process. The genre is usually satirical. The Color of Magic is typical of the genre in that Rincewind, a far from heroic character, has various adventures in which the author makes satirical commentary on social issues including economics, science, and the conventions of the sword and sorcery genre.

The protagonist of the picaresque narrative isn’t evil or criminal so much as he is an outsider to society. Rincewind, for example, is a failed wizard. He has the inborn talent, but the spell in his head makes it impossible for him to remember any other spells. As an outsider, social rules don’t apply to the picaro. When Rincewind flees with the money Twoflower gives him, he ignores the social convention of honor; instead, he makes a logical choice from a perspective of survival (one that members of society, including the reader, would typically deem immoral or unjust).