With a little reworking of the method you can use a method reference.  Since you didn't specify if a set was required, I am using a map as it offers some efficiencies.
List<String> listColors = Arrays.asList("Red", "blue", "green",
        "green");
I am calling the method printOccurrences since that is what you are doing.  It takes a Supplier<Stream<String>> as the parameter.  The stream is obtained in the method by using get().
printOccurrences(listColors::stream);
prints
Red : 1, blue : 1, green : 2
Using Collections.frequency is ill advised since you must traverse the entire list for each specified object.  Using a Map to compute frequencies is a more common technique as it does it in a single pass over the list. For each color string, Collectors.groupingBy along with Collectors.counting will compute the frequency for each map entry pair of <String, Long>.  The entries are then streamed to obtain the collected data and joinedinto a string for printing (the format of which can be altered as required).  I used a LinkedHashMap supplier to preserve the order of colors as they are processed. If not required or desired, it can be removed.
So in order
- get the stream and compute the frequencies using groupingBy
- then stream the entry set, extracting the key(color String) and value(frequency) and format for joining.  I am joining each pair with ", ".
- all of the above is then passed to System.out.println.
static void printOccurrences(Supplier<Stream<String>> stream) {
     System.out.println(stream.get()
             .collect(Collectors.groupingBy(color -> color,
                     LinkedHashMap::new, Collectors.counting()))
             .entrySet().stream().map(e -> e.getKey() + " : " + e.getValue())
             .collect(Collectors.joining(", ")));
}
Some final notes.
- The method above can also be easily altered to return the string for printing and/or take the list as an argument and just stream it there without using a Supplier. 
- Unless you want - "Red"to be different than- "red"you should convert to a common case, otherwise they will be treated as different colors. For something like this, title case might be a nice choice so it can be done as follows:
 
static String toTitleCase(String str) {
     return str.substring(0,1).toUpperCase() + str.substring(1).toLowerCase();
}
Then change a -> a in groupingBy to a->toTitleCase(a)