Good question :D I can answer for Grupo Axé Capoeira, and each grupo does it a little bit differently. The one commonality I have found is the color of a Mestre’s cordão: Vermelho (red). Yet, even that is not standard; there are no concrete rules in capoeira ;)
There are 18 cordões now in Axé Capoeira. The basic colors are eight, and there are intermediaries between them. One’s cordão denotes one’s skill and dedication to the grupo. As a student learns more of the game, the instruments, the songs, the history, Portuguese, the dances, the acrobatics, that student earns higher ranks.
I love that it is not something one can just buy; one has to earn it, even though one shows up to class and pays on time. If a student stops training or shows less dedication to the grupo, that student’s rank is taken away until the teacher feels he or she is ready for it again.
This is how to progress until the student reaches the teaching ranks. Those begin at the 6th rank, azul marrom, which is when teaching is added to the curriculum. From there, the student eventually ‘graduates’ and branches off from the main academy to build another Axé academy elsewhere.
The event where a capoeirista receives a promotion is the batizado, the capoeira ceremony. This is what happened recently in Kansas City, where I got promoted :D
Next up is a list of all the ranks with cute little pics of the cordões.
crua-raw-rå
crua ponta azul
crua azul
azul-blue-blå
azul ponta marrom
azul marrom
marrom-brown-brun
marrom ponta verde
marrom verde
verde-green-grön (Graduado-Graduate-Examen)
verde amarelo (Instrutor-Instructor-Instruktör)
amarelo-yellow-gul (Professor 1°)
amarelo roxo (Professor 2°)
roxo-purple-lila (Contra Mestre 1°-Förman)
roxo vermelho (Contra Mestre 2°-Förman)
vermelho - red - rött (Mestre 1°-Master-Mästare)
vermelho branco (Mestre 2°-Master-Mästare)
branco - white - vit (Gran Mestre-Grand Master)
Thanks for reading this wall of text. I am kind of passionate about my grupo and capoeira; I have lots to say :D