Slightly modified version of Mark Otto's bash style (http://markdotto.com/2012/10/18/terminal-hotness/) to prevent the wrapping problem discussed here (http://serverfault.com/questions/83382/fix-for-bash-line-wrapping-backspace-display-bugs-on-mac-os-x). I just wrapped the whole in thing in \[ and \].
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|export PS1='\[\e[0:35m⌘\e[m \e[0:36m\w/\e[m \e[0:33m`git branch 2> /dev/null | grep -e ^* | sed -E s/^\\\\\*\ \(.+\)$/\(\\\\\1\)\ /`\e[m\]'|