Prep the rhubarb. Slice the rhubarb into 1/2-inch pieces.
Cook the rhubarb compote. Put the sliced rhubarb in a large saucepan and add the sugar, lemon juice, and vanilla or orange zest. Place the saucepan over medium heat and cook until the sugar has dissolved and the mixture is simmering, stirring frequently. Cover the pan and reduce the heat to low. Simmer for 10 minutes, stirring occasionally.
Add optional color. Brighten the rhubarb compote with a small amount of red food coloring, if desired.
Fill containers and store. Let the compote cool slightly and fill jars or freezer containers. Refrigerate for up to 1 week or freeze (in freezer containers or freezer bags) for longer storage time.