They are also known as palominos or steeldusts. They are named quarter horses because they are well known for racing high speed for a quarter of a mile. A famous quarter horse is "Smart chic Olena" and his offspring won a total of $11 milion dollars. "Smart chic Olena" was 2nd all time cutting champion. American quarter horses have been originated in America. Not only are they great at running races, they are wonderful jumpers as well. Quarter horses come in all different colors.