Is it really possible nowadays to remake your baby,like change the eye color?

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I have just read it in the newspaper,that you can change the color of your child's eyes, change the color of his hair, or change the color of his skin, and any thing you can think of. That sounds very incredible to my ears, but that is very scary, to the fact that you can change whatever what you might like your child may become. My only question to this wonderful science breakthrough, does it not harming the child's tissues,biological chemistry, or his abilities as a rational human being who was altered un-naturally.I hope it does not cause any damages.