Both Kandy's and Pearl's need a base color underneath since they are both essentially transparent.
For example, you could paint a gold base and spray Kandy red over the top and it will be a rich golden-tinged red -- think 1960 Fender Statocaster -- the Kandy is a clear with tint added; the more coats you apply the stronger the tint over the base. Combinations of Kandy tints over bases are endless.
With Pearls, you have little pearlescent platelets suspended in clear. Again, you spray it over a base to get a specific effect. Think white base covered with several coats of gold pearl to give it a sparkly, kind of light-changing glow to the white.
The clear which the Kandy tint or Pearl is suspended in can be a "pigmentless" base coat, or it can be a catalyzed urethane clear coat.
Oh yeah - and you can put a Kandy over a Pearl or vice-versa or you can mix them -- as long as you spray the base first.
Hope this helps!
JP