This is my original image:

But when I load it up on MATLAB and use imshow() on it, this is how I see it:

This is the code I’m using:
I=imread('D:\Matty\pout.gif')
imshow(I)
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GIF is indexed format, and each image can have its own colormap. So you need to read the colormap together with the image:
I’ve tested it on your image and it works very well. i don’t understand what was the problem @Lucas described in his answer.