Teofilo Gutierrez and Carlos Bacca had put the World Cup hopefuls in control but they surrendered the advantage to make it three games without a win
Jose Pekerman's men were all over their west African opponents in the first half of their friendly, and converted their dominance by taking a healthy lead into the interval courtesy of goals to Carlos Bacca and Teofilo Gutierrez.
Senegal's response was emphatic, as they levelled the scores within seven minutes of the restart via goals from Moussa Konate and Cheikh Ndoye - the latter a stunner from range.
Alain Giresse's men had to battle for 24 minutes with 10 men, though, as midfielder Ibrahima Seck was sent off for picking up a second yellow card, but despite their numerical advantage, Colombia could not capitalise and have now gone three games without a win.
Among those starting for Colombia was wing-back Camilo Zuniga, who had played just 49 minutes for Serie A side Napoli since undergoing knee surgery in October.
Bacca's back-post header from a Colombia corner found Gutierrez right in the goalmouth in the 11th minute, and he had an easy tap-in to convert their early dominance of possession.
There was more danger for the west African nation moments later, with midfielder Seck conceding a foul on Zuniga on the edge of the area, however, Juan Quintero's effort bounced wide of the target.
Colombia were looking dangerous on the counter-attack, with multiple Senegal corners turning into forays forward for the South American nation.
And Colombia would double their lead just prior to half-time, when Victor Ibarbo got on the end of a long ball, centred a pass for Bacca, who lashed home an effort high into the net to send them into the break with all the momentum.
Senegal had a couple of shots from range in the final 10 minutes of the half, but none that had Colombia goalkeeper Faryd Mondragon too concerned.
However, the African side would be level just seven minutes into the second half, after a barrage on Colombia's goal.
Pekerman made four half-time substitutions - one of which being Zuniga - and it seemed to unsettle the world's fifth-ranked nation.
Konate made Colombia pay for conceding possession in their won half as he ran onto Mohamed Daf's through ball to calmly slot the ball past Mondragon's left hand.
That was followed by Ndoye's thumping effort from outside the area, with his 52nd-minute shot giving Mondragon no chance.
Senegal were all over the World Cup-bound Colombians and Zargo Toure almost put them ahead - only denied by a diving Mondragon, who parried to safety.
Giresse's men were down to 10, though, when Seck received a second yellow for a raised foot on second-half substitute Alexander Meija.
Quintero's 74th-minute free-kick went over the bar as Colombia pressed for a winner before sub Jackson Martinez - who came on for Bacca - saw his shot deflected wide for a corner.
Colombia continued to press in the closing stages but could not break down the Senegalese defence despite long spells of possession.