Formal:
* Un polo bleu (This is the most literal and straightforward translation)
Informal:
* Un polo bleu (This is also acceptable in informal situations)
* Un polo de couleur bleue (This is more specific, but still common)
* Un polo bleu marine (If the blue is specifically navy blue)
You can also use the word "chemise" instead of "polo," but it is less common.
For example:
* Une chemise polo bleue (A blue polo shirt)
It's important to remember that the choice of words will depend on the context and the level of formality.