Answer:
色 SHOKU, SHIKI, iro - colour, passion
イ Katakana "I"
朱 SHU - scarlet
日 NICHI, JITSU, hi, ka - sun, day
貝 KAI - shellfish
糸 SHI, ito - thread
象 SHOU, ZOU - shape, image, elephant
免 MEN, manuka(reru) - avoid, escape, be exempt from
代 DAI, ka(waru), ka(eru), yo, shiro - era, price, change
木 MOKU, BOKU, ki - tree
Pair them like this: イ+象 木+朱 糸+色 日+免 代+貝
像 ZOU - statue, image
株 KABU - stock, share, stump
絶 ZETSU, ta(eru), ta(tsu), ta(yasu) - die out, end, cut off, interrupt, kill off
晩 BAN - evening, night
貸 TAI, ka(su) - rent out