Color appearance models have been extensively studied for characterizing and predicting the perceived color appearance of physical color stimuli under different viewing conditions. These stimuli are either surface colors reflecting illumination or self-luminous emitting radiations. With the rapid development of augmented reality (AR) and mixed reality (MR), it is critically important to understand how the color appearance of the objects that are produced by AR and MR are perceived, especially when these objects are overlaid on the real world. In this study, nine lighting conditions, with different correlated color temperature (CCT) levels and light levels, were created in a real-world environment. Under each lighting condition, human observers adjusted the color appearance of a virtual stimulus, which was overlaid on a real-world luminous environment, until it appeared the whitest. It was found that the CCT and light level of the real-world environment significantly affected the color appearance of the white stimulus, especially when the light level was high. Moreover, a lower degree of chromatic adaptation was found for viewing the virtual stimulus that was overlaid on the real world.