Born on February 28, 1953 in Fitzgerald, Georgia, Colzie was one of six children of Thelma and Jim Colzie. His father was a Negro league baseballpitcher. After attending Coral Gables High School, he played for Ohio State University, where he recorded 15 interceptions and returned 60 punts for 855 yards and two touchdowns. At the time, his 15 interceptions ranked him fourth in school history, and his 855 punt return yards were a school record.
During his nine-season career, Colzie recorded a total of 25 interceptions, which he returned for 412 yards and a touchdown. He also recovered five fumbles, returning them for 42 yards and a touchdown. His best season was in 1981, recording six interceptions for 110 yards and a touchdown, along with one fumble recovery. Colzie also returned seven kickoffs for 130 yards in his career.
Colzie excelled as a punt returner on special teams. In his first NFL season, he recorded 655 punt return yards, the most ever by an NFL rookie. Overall, Colzie returned 170 punts for 1,759 yards during his career. One of his more notable performances was in the Raiders' 32-14 win over the Minnesota Vikings in Super Bowl XI. Colzie recorded four punt returns for a Super Bowl record of 43 yards, including a 25-yard return that set up a Raiders touchdown, and a 12-yard return that set up a field goal.
Colzie died on August 19, 2001 in Miami of a heart attack at the age of 48.