Okay, I know what this is a euphemism for, a woman who dyes her hair (sometimes ‘curtains & carpet’ is used).
But did it ever really mean anything, literally? Being that the cuffs and collar are both part of your shirt, unless you’re wearing two shirts how could they not match? 
Once upon a time, collars were buttoned onto collarless shirts. They were usually made of stiffer material than the shirts, and were removed for laundering.
A swank gentleman might own collars in many colors, so as to allow shirts with a wider variety of cuffs. A loser would buy a collar that didn’t match any of his shirts.