You can use CGContextSetFillColorWithColor and CGContextFillRect for this:
Swift
extension UIImage {
    class func image(with color: UIColor) -> UIImage {
        let rect = CGRectMake(0.0, 0.0, 1.0, 1.0)
        UIGraphicsBeginImageContext(rect.size)
        let context = UIGraphicsGetCurrentContext()
        CGContextSetFillColorWithColor(context, color.CGColor)
        CGContextFillRect(context, rect)
        let image = UIGraphicsGetImageFromCurrentImageContext()
        UIGraphicsEndImageContext()
        return image
    }
}
Swift3
extension UIImage {
    class func image(with color: UIColor) -> UIImage {
        let rect = CGRect(origin: CGPoint(x: 0, y:0), size: CGSize(width: 1, height: 1))
        UIGraphicsBeginImageContext(rect.size)
        let context = UIGraphicsGetCurrentContext()!
        context.setFillColor(color.cgColor)
        context.fill(rect)
        let image = UIGraphicsGetImageFromCurrentImageContext()
        UIGraphicsEndImageContext()
        return image!
    }
}
Objective-C
+ (UIImage *)imageWithColor:(UIColor *)color {
    CGRect rect = CGRectMake(0.0f, 0.0f, 1.0f, 1.0f);
    UIGraphicsBeginImageContext(rect.size);
    CGContextRef context = UIGraphicsGetCurrentContext();
    CGContextSetFillColorWithColor(context, [color CGColor]);
    CGContextFillRect(context, rect);
    UIImage *image = UIGraphicsGetImageFromCurrentImageContext();
    UIGraphicsEndImageContext();
    return image;
}