Using SASS maps http://sassmeister.com/gist/9934911

SassMeister-input-HTML.html

    <div class="swatch swatch-accent">
      $color-accent: #4E90C7
    </div>
    <div class="swatch swatch-border">
      $color-border: #dadada
    </div>
    <div class="swatch swatch-bg-body">
      $color-bg-body: #fefefe
    </div>
    <div class="swatch swatch-bg-copy">
      $color-bg-copy: #ececec
    </div>
    <div class="swatch swatch-focus">
      $color-focus: #fcfcfc
    </div>
    <div class="swatch swatch-text">
      $color-text: #444
    </div>
    <div class="swatch swatch-text-light">
      $color-text-light: #fbfbfb
    </div>
    <div class="swatch swatch-link">
      $color-link: #66B9FF
    </div>
    <div class="swatch swatch-link-hover">
      $color-link-hover: #004c99
    </div>
    <div class="swatch swatch-error">
      $color-error: #E05858
    </div>
    <div class="swatch swatch-notice">
      $color-notice: #ffffee
    </div>

SassMeister-input.scss

// ----
// Sass (v3.3.4)
// Compass (v1.0.0.alpha.18)
// ----

@import "compass";

.swatch {
  display: inline-block;
  height: 6em;
  margin: 0 1.5em 1.5em 0;
  overflow: hidden;
  padding: 1em;
  position: relative;
  width: 10em;
}

$colors: (
  accent: #4E90C7,
  border: #dadada,
  border-light: #f1f1f1,
  border-tabs: #dadada,
  text: #444,
  text-light: #fbfbfb,
  link: #66B9FF,
  link-hover: #004c99,
  bg-header: #fefefe,
  bg-body: #fefefe,
  bg-copy: #ececec,
  bg-focus: #fcfcfc,
  error: #E05858,
  notice: #209609,
  bg-notice: #ffffee
);

@each $color, $bgcolor in $colors {
  .swatch-#{$color} {
    @include contrasted($bgcolor);
  }
}

SassMeister-output.css

.swatch {
  display: inline-block;
  height: 6em;
  margin: 0 1.5em 1.5em 0;
  overflow: hidden;
  padding: 1em;
  position: relative;
  width: 10em;
}

.swatch-accent {
  background-color: #4e90c7;
  color: black;
}

.swatch-border {
  background-color: #dadada;
  color: black;
}

.swatch-border-light {
  background-color: #f1f1f1;
  color: black;
}

.swatch-border-tabs {
  background-color: #dadada;
  color: black;
}

.swatch-text {
  background-color: #444444;
  color: white;
}

.swatch-text-light {
  background-color: #fbfbfb;
  color: black;
}

.swatch-link {
  background-color: #66b9ff;
  color: black;
}

.swatch-link-hover {
  background-color: #004c99;
  color: white;
}

.swatch-bg-header {
  background-color: #fefefe;
  color: black;
}

.swatch-bg-body {
  background-color: #fefefe;
  color: black;
}

.swatch-bg-copy {
  background-color: #ececec;
  color: black;
}

.swatch-bg-focus {
  background-color: #fcfcfc;
  color: black;
}

.swatch-error {
  background-color: #e05858;
  color: black;
}

.swatch-notice {
  background-color: #209609;
  color: white;
}

.swatch-bg-notice {
  background-color: #ffffee;
  color: black;
}

SassMeister-rendered.html

    <div class="swatch swatch-accent">
      $color-accent: #4E90C7
    </div>
    <div class="swatch swatch-border">
      $color-border: #dadada
    </div>
    <div class="swatch swatch-bg-body">
      $color-bg-body: #fefefe
    </div>
    <div class="swatch swatch-bg-copy">
      $color-bg-copy: #ececec
    </div>
    <div class="swatch swatch-focus">
      $color-focus: #fcfcfc
    </div>
    <div class="swatch swatch-text">
      $color-text: #444
    </div>
    <div class="swatch swatch-text-light">
      $color-text-light: #fbfbfb
    </div>
    <div class="swatch swatch-link">
      $color-link: #66B9FF
    </div>
    <div class="swatch swatch-link-hover">
      $color-link-hover: #004c99
    </div>
    <div class="swatch swatch-error">
      $color-error: #E05858
    </div>
    <div class="swatch swatch-notice">
      $color-notice: #ffffee
    </div>