You could assume there should be the same colour variants on the Luke Jedi cape, because of the same fabric used like for the Squid Head capes, but besides the greenish one the colours are totally different.
On Luke Jedi we have mainly three colours used for the cape. The greenish one seems to be the exact same material used also for the Squid Head (see above). The reddish or more pinkish one, is the one most people associate with a LL Luke Jedi figure. On those I often noticed a very obvious greyish stitch to connect the cape on the throat. Last one is a greyish, more brownish cape.
The reddish one seems to be the only one that is cut a bit longer. In fact all three are much shorter then Kenner capes, but it also seems like the cut is always a bit different to the reddish ones.
I pictured mine with dark-blue and greenish-grey blasters, which is in fact wrong (as I know now). There is not one carded example known with the dark-blue blaster. These belong only to the AT-ST Driver.
Besides two slightly different coos there can only be one more difference noted: The facial details can be thin or thick sprayed. It looks like an accidental mistake while using the spray mask, but I have to say they are all fat or thin and they are all equal fat or equal thin. I tend to believe that something was changed (spray mask?) at some point while producing.