Instead of water I should have use a name giving more results:
Flood fill
http://en.wikipedia.org/wiki/Flood_fill
There are some explanations and animations so you can see how it's working.
If you just want to know the area of the sticker appearing (sticker being one easy color to detect) then you can just use flood fill.
However if you want to know the complete area of the object were the sticker is, it should be easier to use blob detection/extraction
Blob algorithm usually first search for edges, and then apply flood fill to search for "compact" form:
http://en.wikipedia.org/wiki/Blob_detection
(the various methods names are usually different type of "differentiation" algorithm detecting edges)
Indeed edge are high frequency, and thus given filters search for high variations in 2D
and then flood fill:
http://en.wikipedia.org/wiki/Blob_extraction
So if you have one simple colored object you can easily find the edge of this shape and then just have to do flood filling.
However if the color is not an easy one you have better using the (more computational) blob extraction algo.
Given explanations are approximative and may not use the correct vocabulary so if any expert goes by don't be angry

and consider contributing to the thread

PS: flood fill on code.google.com seems to give results with java code... you could get some interesting stuff from that

http://code.google.com/search/#q=flood%20fill
also the page on wikipedia seems to give links of implemented solutions !