We report an alternative medium of transparent upconverting colloid containing lanthanide ion doped NaYF(4) nanocrystals for three-dimensional (3D) volumetric display. The colloids exhibit tunable upconversion luminescence with a wide spectrum of colors by adjusting the doping concentrations of the nanocrystals and the compositions of the colloids. Our preliminary experimental result indicates that an upconverting colloid-based 3D volumetric display using a convergent near infrared laser beam to induce a localized luminescent spot near the focus is technically feasible. Therefore arbitrary 3D objects can be created inside the upconverting colloid by use of computer controlled 3D scanning systems.