How does the point cloud rendered by vtkPolyData interact with each point?

Like Julien said. Add a scalar to each point or rgb. And either use a lookup table to map a scalar to a color or do a direct mapping if you have an rgb info. You should be able to find that in the online vtk example in C++ or Python.
In vtk.js you should be able to also find some examples where we render geometry with color.