try this dude. It's the standard one for Gentoo...
export PS1='\[\033[01;32m\]\u@\h \[\033[01;34m\]\W \$ \[\033[00m\]'
put this in ~/.bashrc
like so:
echo "export PS1='\[\033[01;32m\]\u@\h \[\033[01;34m\]\W \$ \[\033[00m\]'" >> ~/.bashrc
you can do really cool things with PS, have a search on this site. I seem to remeber a thread asking for peoples PS statements.
Whoops, left of a trailing ' there