Depth perception for night vision (NV) imagery could largely improve scene comprehension. We present a novel scheme to give fused multi-band NV imagery smoothly natural color appearance as well as depth sense from color. Our approach is based on simulating color cues by varying saturation values of each object in the color NV image, in correspondence with the ratio between the infrared and low-light-level sensor outputs which in practice is the depth feature for same materials. We render the NV image segment-by-segment by taking advantage of image segmentation, dominant color transfer, saturation variation, and image fusion. Experiments have shown that the proposed scheme can achieve satisfying results.