Just be sure to check your local laws, you can photograph it for sure with no issues but taking any of it can cause a problem or be illegal. Most states have laws saying you cannot move petrified wood at all. Anything like what is shown in the photos can be considered Native American artifacts and are generally protected as well unless you are Native American or have permission to collect them.
They can be interesting to find though and usually in the western US if you find one you can find more of them close by since once they found the type of rock they needed they would generally stop and make as many tools as they needed while they were there.
Enjoy the area you are in Colorado is some beautiful country!