Change the text format in the header (The name of the page)

Hello,
I am starting to customize a little bit the Elegant template.
I am agree to use text instead logo in the top, but I want to know where and how to change a little bit the format. I don't know if I can use google fonts for this and put two colors in the text.
I know how to change the text in the backend the thing I don't know is how to apply special format.

Basically I want to put:
HONG KONG | FRAMED
HONG KONG in red color (#ff0000) and FRAMED in grey (#696969).


Is this possible?
Thanks.