Color Institute: This is the brand name. Color Institute is a cosmetics company known for producing a wide array of affordable makeup products, often sold in kits and as individual items. They are generally positioned as a budget-friendly option in the beauty market.

Foundation: This specifies the product type. Foundation is a base makeup applied to the face to even out skin tone and complexion, and to create a smooth canvas for other makeup. Since the volume is listed in milliliters (ML), this is a liquid or cream-based foundation.

1723: This is likely the product's internal model or serial number, used by the manufacturer and retailers to identify the specific product line.

03: This is the shade number. The "03" indicates a specific color within the foundation range. Given that it's a lower number in the sequence (following 04 and 05 from previous inquiries), it's likely a lighter shade, possibly a light-to-medium tone, suitable for fair to light skin tones. The exact color and undertone (warm, cool, or neutral) cannot be determined without a visual reference.

25ML: This is the volume of the product. 25 milliliters is a standard size for a bottle of liquid foundation, making it suitable for regular use.