Actually, it's just an iphone 5 with fancy colours
Still a good phone nevertheless.
White isn't all that fancy. Otherwise, there are some important differences. One of the main differences is that the iPhone 5c was for the most part manufactured after the iPhone 5, and might expect, overall, a longer useful life; as well as some updated technology.
The iPhone 5, iPhone 5c, and iPhone 5s all have dual cameras, but there are notable quality differences between them.
The front "FaceTime" cameras are similar in all three devices, and all have 1.2 megapixel sensors and shoot 720p video, but the iPhone 5 has 1.75µm pixels whereas the iPhone 5c and iPhone 5s have 1.9µm pixels, which as well documented by iLounge, means that in the real world the later models have improved low light performance, even if it can be subtle.
Battery Life Differences
Apple reports that all three of these iPhone models provide up to 40 hours of audio playback, 10 hours of video playback, and 10 hours of Wi-Fi, but provides different numbers for other usage.
Specifically, Apple estimates 8 hours of talk time on 3G and 8 hours of Internet use on 3G and 4G/LTE alike for the iPhone 5, but 8 hours of 3G use and 10 hours on Wi-Fi or 4G/LTE for the iPhone 5c and iPhone 5s.
As first reported by AnandTech, citing FCC filing documents, the iPhone 5c and iPhone 5s models have a larger capacity battery than their predecessor, so it is entirely logical that the battery runtime is longer.