using System;

public class Program

{

    public static void Main()

    {

        string str = "{{printing|blue,bold,http://www.google.com}}";

​

        // get your settings

        int pFrom = str.IndexOf("{{") + "{{".Length;

        int pTo = str.LastIndexOf("}}");

        string settings = str.Substring(pFrom, pTo - pFrom);

        // split 

        string[] parts = settings.Split('|');

        string key = parts[0];

        string[] values = parts[1].Split(',');

​

        // for demo purposes only

        Console.WriteLine(key);

        foreach(var v in values)

        {

            Console.WriteLine("-" + v);

        }

        // create html

        var html = string.Format(@"

<a href='{3}' target='_blank'>

    <font color='{1}'>

        <b>{0}</b>

    </font>

</a>", key, values[0], values[1], values[2]);

        Console.WriteLine(html);

    }

}