Demo:
In [50]: df = pd.DataFrame(np.random.rand(100, 2), columns=['x','y'])
In [51]: df.head()
Out[51]:
x y
0 0.376715 0.209387
1 0.633065 0.212350
2 0.538783 0.883493
3 0.753707 0.983746
4 0.135703 0.840134
In [52]: df.plot.scatter(x='x', y='y', s=20, c=np.where(df['y']>0.5, 'r', 'g'))
Out[52]: <matplotlib.axes._subplots.AxesSubplot at 0x1078f4e0>

UPDATE:
is it possible to nest two conditions in there such as
c=np.where(df_AA['a']>0.5 and df_AA['b']<0.5, 'r', 'b')
In [70]: df.plot.scatter(x='x', y='y', s=20, c=np.where((df['x']>0.5) & (df['y']<0.5), 'r', 'g'), grid=True)
Out[70]: <matplotlib.axes._subplots.AxesSubplot at 0xc166dd8>
