Let $G$ be an infinite graph, such that every finite subgraph of $G$ can be colored with $k$ colors. Is it necessarily the case that $G$ can be colored with $k$ colors?
The answer is yes, and to prove this we will begin by defining a topology on the space of all colorings of $G$.
Let $V$ be the set of vertices of $G$. A coloring of $G$ - not necessarily legal - is just a function $f : V \to A$, where $A$ is the finite set of $k$ colors. Let us denote the space of all colorings by $X$.
We can topologize $X$ by taking a basic open set to be of the form $U_{v,c}$ where $v$ is a vertex of $G$, $c$ is some color in $A$, and $U_{v,c}$ is the set of those colorings $f \in X$ such that $f(v)=c$. A little thought reveals that this is just the space product space $A^V$ where $A$ is given the discrete topology.
There is a highly nontrivial theorem of Tychonoff that says that the product of compact spaces is again compact. So the space $X$ is compact. This implies that every collection of closed subsets of $X$ with the finite intersection property (the intersection of finitely many sets in the collection is nonempty) has a nonempty intersection.
Let $H$ be a finite subgraph of $G$. If $f$ is a coloring of $G$, we can obtain a coloring of $H$ by restricting $f$ to the set of vertices of $H$. Of course, if $f$ were a valid coloring of $G$, then restricting it to $H$ gives a valid coloring of $H$ - in $H$, there are less vertices and edges to worry about.
Conversely, let $f$ be a coloring of $G$, and suppose that restricting $f$ to each finite subgraph of $G$ gives a valid coloring. I claim that $f$ is a valid coloring of $G$, too. Suppose not. Then there are vertices $u,v$ connected by an edge such that $f(u) = f(v)$. But then the restriction of $f$ to the finite subgraph $H$, which consists of the vertices $u,v$ and the edge between them, is not a legal coloring. This contradicts our initial asumption.
So we are going to find a coloring of $f$ of $G$ whose restriction to each finite subgraph is legal and this will prove our theorem.
If $H$ is a finite subgraph of $G$, let $C_H$ denote the set of those colorings of $G$ whose restriction to $H$ is legal. By hypothesis $C_H$ is nonempty for every such $H$. Furthermore, the set $C_H$ is closed. For if $f$ is a coloring of $G$ which lies outside $C_H$, then there are vertices $u,v$ of $H$ connected by an edge in $H$ such that $f(u) = f(v)$. The set of $U$ of those $g$ which agree with $f$ on $u,v$ is open and it contains $f$, but it is disjoint from $C_H$ (no such $g$ can be valid when restricted to $H$). It follows that $C_H$ is closed, since its complement contains a neighborhood of each of its points.
Finally, the family ${C_H}$ enjoys the finite intersection property: if $H_1, ..., H_n$ are finite subgraphs, then a valid coloring of their union is a valid coloring of each of them individually. So $C_{H_1 \cup ... \cup H_n}$ is a nonempty subset of $C_{H_1} \cap ... C_{H_n}$.
By compactness the intersection of all the $C_H$, for $H$ a finite subgraph, is nonempty. If $f$ is an element of the intersection, then it is a valid coloring of each finite subgraph by definition, and hence, by the above, a valid coloring of $G$.
The above proof is very similar to the proof that the compactness theorem in topology yields the compactness theorem for propositional calculus; thus logical and topological compactness are distinct, but related notions.