A vesicle-based polydiacetylene biosensor for colorimetric detection of bacterial pore-forming toxin streptolysin O (SLO) is reported. The sensor was constructed with three lipid constituents: glycine-terminated diacetylene lipid Gly-PCDA, cell membrane-mimicking component PC-DIYNE, and cholesterol (CHO), which serves as the bait molecule. UV irradiation led to photopolymerization of the diacetylene lipids that gave the material a blue appearance. Incubation of the vesicles with SLO from Streptococcus pyrogenes turned the vesicle solution red, and the color change was found to be correlated to SLO concentration. The optimal sensing performance was found with vesicles consisting of 71% Gly-PCDA, 25% CHO, and 4% PC-DIYNE, and a correlation relationship was obtained for 20 HU to 500 HU/mL, or 100 pM to 6.3 nM of SLO toxin. Transmission electron microscopy and dynamic light scattering was used for further characterization of the vesicular assemblies. Transmem-branepores (holes) with diameter around 30 nm were observed on the vesicle membranes, in particular on the peripheral of the membrane structures, suggesting pore formation by SLO toxin provides the driving force for the color change of the functional vesicles.