How can I use the Bootstrap Color Picker plugin in an HTML Form input field?

My thinking is that I can have a hidden input field in the HTML form and then add the basic color picker (small square) in the form and when the user saves a color, use the value returned from the color picker (using JavaScript/JQuery) to place the value into the 'value=""' attribute of the hidden input field.

Would that be the correct way to do this? Or is there a better way?

I wish to send the chosen color as a $_POST variable when the form is submitted.

A sample of the JavaScript/JQuery code would be good if someone has done something like this.