I'm still redisigning my filters and I'm wondering if there is a specific or more user friendly order to respect.
To my mind it would be: Color - Size - Price
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I've created several different shopping experiences, including more than one fashion site. The answer is that it tends to depend on your audience and where you are in the site. One size does not fit all!
For example Brand often is more important to shoppers than colour or size and, if you have a lot of items in a category, then style may come above that (for example with jeans).
I've always tended to do colour then size, except for some items like bras and shoes when size becomes far more important.
In short, get to understand your users, create something based upon what they do (I use prototypes when I can), play it back to them and iterate. Remember that what may be right for one section of the site may not be right for another - especially if you have a large site. If your back end doesn't allow for this kind of optimisation then either explain that back ends shouldn't be built/bought from a bunch of people coming up with features in a meeting room and/or find the one configuration that provides the best solution to the most important areas of your site.
As a rule of thumb, make the order into a sentence, read it aloud and see if it sounds strange.
In your case I think: "an Expensive big green item" makes sense, whereas a "green big expensive" item doesn't. So Price Size Colour.
Sources: the below links and a "Teach english as a foreign language" course I did.
You are not going to be able to design a "one size fits all" (If you'll pardon the pun) filter mechanism. Your best bet is going to be giving them the option to sort and/or eliminate by certain criteria.
For example, Betty and Veronica are both shopping at your site for a new pair of jeans for a date with Archie. Veronica is most likely going to be selecting by brand and color first, while Betty will most likely be choosing by price and fit.
If you want good examples, look at how to order searches on sites such as Home Depot and Lowes, or how to eliminate choices as on eBay. All of those sites have long since solved this question, so unless you have something unique in your presentation that demands it, don't re-invent the wheel.