A Python function to create confetti in Blender, more specifically it'll create 100 small planes, assign those a new texture, and randomize their location. The confetti function takes three parameters--the first is the name of the material to be assigned, the next three are the RGB values for that material. The code below will generate yellow, g…

Confetti.py

import bpy
import random

def confetti(MatCol,r,g,b):
    bpy.ops.mesh.primitive_plane_add()
    bpy.ops.transform.resize(value=(.1,.1,.1))
    #Resize to fit the scene
    bpy.data.objects['Plane'].name = MatCol
    #Rename the planes as the 1st paramater above
    mat_name = MatCol
    mat = bpy.data.materials.new(mat_name)
    bpy.data.materials[mat_name].use_nodes = True
    bpy.data.materials[mat_name].node_tree.nodes.new(type='ShaderNodeEmission')
    inp = bpy.data.materials[mat_name].node_tree.nodes['Material Output'].inputs['Surface']
    outp = bpy.data.materials[mat_name].node_tree.nodes['Emission'].outputs['Emission']
    bpy.data.materials[mat_name].node_tree.links.new(inp,outp)
    bpy.data.materials[mat_name].node_tree.nodes['Emission'].inputs[0].default_value = (r,g,b,1)
    bpy.data.objects[MatCol].active_material = bpy.data.materials[mat_name]
    #Run a loop 100 times
    for index in range(100):
        bpy.ops.object.select_all(action='DESELECT')
        #If you don't deslect the other objects, the results are real weird
        bpy.data.objects[MatCol].select = True
        x=random.uniform(-10,10)
        y=random.uniform(-10,10)
        z=random.uniform(-10,10)
        #Randomize some variables to plug into the location parameter
        bpy.ops.object.duplicate_move(OBJECT_OT_duplicate={"linked":False,"mode":'TRANSLATION'}, TRANSFORM_OT_translate={"value":(x,y,z)})
        #Duplicate the object and keep it unlinked

confetti("YellowMat", 1, 1, 0)
confetti("GreenMat", 0, 1, 0)
confetti("RedMat", 1, 0, 0)
confetti("BlueMat", 0, 0, 1)

I think you might want to change
bpy.data.objects[MatCol].select = True to bpy.data.objects[MatCol].select_set(True)
for 2.8 and up.

I ran into an error and found this on the subject:
https://blender.stackexchange.com/questions/141330/problem-with-bpy-context-selected-objects

very helpful script for getting familiar with blenders data structures!! Thanks for sharing!!!