I remember watching a movie as a kid (90s) that had colorful sea dragons/dinosaurs? that lived underwater in a cave. They were all different colors (pink, yellow, blue/purple) and I believe there was a mean one that was either dark purple or black. The movie was animated but it looked like the characters were drawn.
I don’t remember much about it but I rented it every time I went to Videos Plus.
Big guess: Moschops (1983) – http://www.imdb.com/title/tt0310497/
Thanks, but that’s not it. The animation was much different. More along the lines of the early episodes of Spongebob.
https://youtu.be/Q2Odfz8Nu40
This one?