I managed to produce the graph correctly, but with some more testing noted inconsistent result for the following two different line of codes:
colors = [h.edg
The order of the edges passed to the drawing functions are important. If you don't specify (using the edges keyword) you'll get the default order of G.edges(). It is safest to explicitly give the parameter like this:
import networkx as nx
G = nx.Graph()
G.add_edge(1,2,color='r',weight=2)
G.add_edge(2,3,color='b',weight=4)
G.add_edge(3,4,color='g',weight=6)
pos = nx.circular_layout(G)
edges = G.edges()
colors = [G[u][v]['color'] for u,v in edges]
weights = [G[u][v]['weight'] for u,v in edges]
nx.draw(G, pos, edges=edges, edge_color=colors, width=weights)
This results in an output like this: