This paper demonstrates the possibility of capturing full-resolution, high-speed image sequences using a regular 3CCD color camera in conjunction with high-power light emitting diodes of three different colors. This is achieved using a novel approach, referred to as spectral-shuttering, where a high-speed image sequence is captured using short duration light pulses of different colors that are sent consecutively in very close succession. The work presented in this paper demonstrates the feasibility of configuring a high-speed camera system using low cost and readily available off-the-shelf components. This camera can be used for recording six-frame sequences at frame rates up to 20 kHz or three-frame sequences at even higher frame rates. Both color crosstalk and spatial matching between the different channels of the camera are found to be within acceptable limits. A small amount of magnification difference between the different channels is found and a simple calibration procedure for correcting the images is introduced. The images captured using the approach described here are of good quality to be used for obtaining full-field quantitative information using techniques such as digital image correlation and particle image velocimetry. A sequence of six high-speed images of a bubble splash recorded at 400 Hz is presented as a demonstration.