Not ASCII art.

fullColorASCII.py

from PIL import Image, ImageDraw
import sys

def rgb_2_pixels(fr, fg, fb, br, bg, bb, text='\u2584'):
    fgc = "{0};{1};{2}".format(fr, fg, fb)
    bgc = "{0};{1};{2}".format(br, bg, bb)
    return "\033[38;2;{0};48;2;{1}m{2}\033[0m".format(fgc, bgc, text)

def morph_color(c1, c2):
    return int((c1 + c2) / 2)

def morph_pixels(p1, p2):
    return [
        morph_color(p1[0], p2[0]),
        morph_color(p1[1], p2[1]),
        morph_color(p1[2], p2[2])
    ]
xstep = 4
ystep = 8

pix_in_char_table = {}
image_name = sys.argv[1]
output_name = image_name.split(".")[0] + "__image_2_ascii__.txt"
im = Image.open(image_name)
pix = im.load()
image_text = ""
for y in range(0, im.size[1] - ystep, ystep):
    for x in range(0, im.size[0] - xstep, xstep):
        c1 = pix[x, y]
        c2 = pix[x, y + xstep]
        for xx in range(x , x + xstep):
            for yy in range(y, y + ystep):
                if yy > y + (xstep):
                    c2 = morph_pixels(c2, pix[xx, yy])
                else:
                    c1 = morph_pixels(c2, pix[xx, yy])
                pass
        image_text += rgb_2_pixels(c1[0], c1[1], c1[2], c2[0], c2[1], c2[2])
    image_text += "\n"
print(image_text)