This is how the author sets their personal PS1 variable:

gitPS1(){
    gitps1=$(git branch 2>/dev/null | grep '*')
    gitps1="${gitps1:+ (${gitps1/#\\* /})}"
    echo "$gitps1"
}
#Please use the below function if you are a mac user
gitPS1ForMac(){
    git branch 2> /dev/null | sed -e '/^[^*]/d' -e 's/* \\(.*\\)/ (\\1)/'
}
timeNow(){
    echo "$(date +%r)"
}
if [ "$color_prompt" = yes ]; then
  if [ x$EUID = x0 ]; then
    PS1='\\[\\033[1;38m\\][$(timeNow)]\\[\\033[00m\\] \\[\\033[1;31m\\]\\u\\[\\033[00m\\]\\[\\033[1;37m\\]@\\[\\033[00m\\]\\[\\033[1;33m\\]\\h\\[\\033[00m\\] \\[\\033[1;34m\\]\\w\\[\\033[00m\\]\\[\\033[1;36m\\]$(gitPS1)\\[\\033[00m\\] \\[\\033[1;31m\\]:/#\\[\\033[00m\\] '
  else
    PS1='\\[\\033[1;38m\\][$(timeNow)]\\[\\033[00m\\] \\[\\033[1;32m\\]\\u\\[\\033[00m\\]\\[\\033[1;37m\\]@\\[\\033[00m\\]\\[\\033[1;33m\\]\\h\\[\\033[00m\\] \\[\\033[1;34m\\]\\w\\[\\033[00m\\]\\[\\033[1;36m\\]$(gitPS1)\\[\\033[00m\\] \\[\\033[1;32m\\]:/$\\[\\033[00m\\] '
  fi
else
    PS1='[$(timeNow)] \\u@\\h \\w$(gitPS1) :/$ '
fi

And this is how my prompt looks like:

Color reference:

# Colors
txtblk='\\e[0;30m' # Black - Regular
txtred='\\e[0;31m' # Red
txtgrn='\\e[0;32m' # Green
txtylw='\\e[0;33m' # Yellow
txtblu='\\e[0;34m' # Blue
txtpur='\\e[0;35m' # Purple
txtcyn='\\e[0;36m' # Cyan
txtwht='\\e[0;37m' # White
bldblk='\\e[1;30m' # Black - Bold
bldred='\\e[1;31m' # Red
bldgrn='\\e[1;32m' # Green
bldylw='\\e[1;33m' # Yellow
bldblu='\\e[1;34m' # Blue
bldpur='\\e[1;35m' # Purple
bldcyn='\\e[1;36m' # Cyan
bldwht='\\e[1;37m' # White
unkblk='\\e[4;30m' # Black - Underline
undred='\\e[4;31m' # Red
undgrn='\\e[4;32m' # Green
undylw='\\e[4;33m' # Yellow
undblu='\\e[4;34m' # Blue
undpur='\\e[4;35m' # Purple
undcyn='\\e[4;36m' # Cyan
undwht='\\e[4;37m' # White
bakblk='\\e[40m'   # Black - Background
bakred='\\e[41m'   # Red
badgrn='\\e[42m'   # Green
bakylw='\\e[43m'   # Yellow
bakblu='\\e[44m'   # Blue
bakpur='\\e[45m'   # Purple
bakcyn='\\e[46m'   # Cyan
bakwht='\\e[47m'   # White
txtrst='\\e[0m'    # Text Reset

Notes:

• Make the changes in ~/.bashrc or /etc/bashrc or ~/.bash_profile or ~./profile file (depending on the OS) and save it.
• For root you might also need to edit the /etc/bash.bashrc or /root/.bashrc file
• Run source ~/.bashrc (distro specific) after saving the file.
• Note: if you have saved the changes in ~/.bashrc, then remember to add source ~/.bashrc in your ~/.bash_profile so that this change in PS1 will be recorded every time the Terminal application starts.