The battle for bronze will play out in the Brazilian capital, with Los Cafeteros locking horns with La Blanquirroja
Colombia takes on Peru in the Copa America third-place play-off on Friday, with the teams colliding at the Mane Garrincha Stadium in Brasilia.
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Having lost out on penalties to Argentina in the semi-final, Colombia come into the game having exerted themselves for longer, with Peru losing in regulation time against Brazil.
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La Blanquirroja also arguably holds a psychological edge over the Colombians after defeating them 2-1 in the group stage of this tournament, but previous form can count for little in a knockout match.