But in fact colour photography is much older than this. Early versions used three or more separate exposures, with different colour filters, which were combined into a final version at development time.
One of the most stunning collections of this sort of photography is Sergei Mikhailovich Prokudin-Gorskii's photos of pre-Soviet Russia from 1909–1912. The quality of photography and richness of colour make it almost impossible to believe that they were from an entire century ago. The three-hued appearance of flowing water (and the occasional unwary background subject) shows how it was put together from separate Cyan/Magenta/Yellow exposures.
But even older forms of colour photography can be found. Examples from 1906 and 1890 show the "Photocrom" method of pseudo-colour photography. James Clark Maxwell produced a test image as far back as 1855, and Levi Hill's 1851 "Hillotypes" even show some basic colouration — although he fraudulently added extra colours after development!
Edit: Calvin's Dad, as usual, has a different story.