In 2003, the Colleen Peterson Songwriting Award, an award for young emerging songwriters, was created in her memory. In 2004, her friend and songwriting partner Nancy Simmonds worked with several musicians to produce a new album, Postcards from California, from unreleased demos she had recorded with Peterson in the early 1990s.
In 2003, a tribute was established in Colleen Peterson's memory with the creation of the Colleen Peterson Songwriting Award for young emerging songwriters. Two years later, her friend Nancy Simmonds collaborated with musicians to produce an album, Postcards from California, based on unreleased recordings she and Peterson had made together in the early 1990s.