What household medication is known for its ability to remove color from carpet?

The correct answer is hydrogen peroxide. This compound is known for its oxidizing properties, which make it effective in breaking down color pigments in various materials, including carpet fibers. When applied to a stain, hydrogen peroxide can lighten or remove color from carpets, particularly those made from synthetic fibers. Its effectiveness is due to its ability to release oxygen when it decomposes, which interacts with the chromophores responsible for color.

Other options may have their uses in different contexts but are not recognized for specifically removing color from carpets the way hydrogen peroxide can. For example, while bleach is effective in color removal, it is not typically safe for use on carpets made from natural fibers and can cause significant damage. Benzoyl peroxide is primarily used in acne treatment and isn't commonly associated with cleaning carpets. Acetone, a solvent found in nail polish remover, can damage carpet fibers as well.