The BBC duo were back on duty as part of the channel's coverage for the penultimate last-16 tie.
While previewing the match, the pundits - including Alex Scott and Ashley Williams - turned their focus to Romanian star Andrei Ratiu.
Lineker pointed on that the defender was hard to miss with his vibrant blue hairstyle.
Scott praised the full-back's tenacity to get forward and cause problems for Romania's opponents.
Gary Lineker and Alan Shearer joked with one another
BBC
Shearer then took the opportunity to poke fun at Lineker's grey hair in comparison to Ratiu.
He said: "Bit of a different blue rinse to yours, isn't it, Gaz?"
Shearer's comment had both Scott and Williams laughing while Lineker also couldn't help but smile.
But the former Tottenham striker managed to get the last word in as he replied: "I've got no answer Alan. At least I've got something to rinse."
Shearer was able to see the funny side of it before Lineker quickly changed the subject to Romania's last knockout victory at the European Championships.
The lighthearted exchange between Lineker and Shearer comes just weeks after he called himself an 'idiot' for a comment he made to Frank Lampard live on air.
Lineker appeared to poke fun at Lampard's thinning hairline during the BBC's coverage of Germany's 2-0 win over Hungary last month.
The clip went viral on social media and Lineker felt the need to apologise on The Rest is Football podcast.
Gary Lineker apologised to Frank Lampard for his remark
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“Obviously Frank’s slightly thinning, I’m slightly thinning, and I actually meant it about everyone," he said.
"But when it came out, it came out a bit wrong.
"And you know Frank does that thing where he smiles, and then he suddenly doesn’t smile?
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The BBC pundits were discussing Andrei Ratiu's bright blue hair
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“Frank’s great fun, he won’t mind. I must admit, when I got back to the hotel I saw it on social media and thought, ‘Oh you f*****g idiot.’
"I felt really bad, I’ll have to apologise.
"I will apologise because it wasn’t deliberate but I get how funny it was. Those things happen on live TV.”
