Simple .bashrc that creates a blue prompt line with the current path. The .bash_profile also turns on colorisation for `ls` (list files) output; and has some examples for other improvements.

.bash_profile

source ~/.bashrc

# Have an ls that is in color by default
alias ls='ls -G '

# Use the tree command - need to install it first from here
# http://andre-als.blogspot.com.au/2012/02/how-to-install-command-tree-for-mac.html
alias tree='tree -C '

# Create a nice short cut for git logs
alias gitshort='git log --pretty=format:"%h%x09%an%x09%ad%x09%s"'

# Use a personal bin directory for handy scripts
PATH="$HOME/bin:$PATH"

.bashrc

export PS1="\[\033[1;34m\]\w $\[\033[0m\] "
export PS2="> "

.bashrc-dark

export LSCOLORS=gxfxcxdxbxegedabagacad
export CLICOLOR=1
export PS1="\[\033[1;32m\]\w $\[\033[0m\] "
export PS2="> "

To install on Mac, right-click the Raw buttons above and choose download. Then using the Terminal / command line:

mv ~/Downloads/bash_profile.txt ~/.bash_profile
mv ~/Downloads/bashrc.txt ~/.bashrc

These work great on Mac and may work on other machines with a Unix-like shell. After installing every new Terminal window will show the nice colorised output - so start a new Terminal now and test it out.

Added an updated set of options for dark background terminal.