The first Red Present is on a platform all the way to the right side of the section where your finger manipulates the jump pad-powered blocks.
The second Red Present is at the right of the bridge in a valley containing lots of monsters, which you'll see after being chased through the collapsing bounce bridges right before you enter. This is easily the most terrified you'll be tracking one down!
The third Red Present is against the rocks on the left after the doors are mercifully closed and you're cut off from all the monsters chasing you.
The fourth Red Present is at the edge of a path on the opposite side of the third one. Veer off the green path and walk over to pick it up.
Who wants to play some basketball? In the introductory area, you'll see a hoop and some papery basketballs. Pick them up then toss three in the (moving!) hoop to score your one and only Blue Present of the level.
When you first start the level, you'll see a white gopher sitting at the entrance. Snap his picture to bring his color back.
While you're attempting to avoid rocks being thrown at you by monsters and jumping across the bouncing pads, you may notice a white pine cone next to a monster. If you dare, take out your camera and take the picture to bring it back.
After a chase, you're given a momentary break. During this you'll see a giant leafy tree that's completely white. Take the picture to bring its green back.
Lastly, as you're trying not to fall into the giant holes as you sprint to the end, you may notice a giant white drill in the last hole on the left. Blink and you'll miss it! Take a photo to show it in its true colors.