Ron,

I am still looking through my documentation.

Color of the side-mount spare-tire carrier frame for a 1954/55st Chevrolet Truck two-tone cab (with white-exterior cab-top color):

My guesses are:

The two two-tone body options in 1954 were : white top-color; and, the spare-tire frame was either red or yellow lower body-color:

1. If the spare tire carrier was installed at the factory :
- yellow side-tire-carrier for a cab with a two-tone white-top/yellow-bottom cab
- red side-tire-carrier for a cab for with a two-tone while-top/red-bottom cab

2. If the spare tire carrier was installed by the dealer on a two-tone cab :
black side-tire carrier,
or,
lower body-color side-tire carrier