rxvt is so much more better than the default cygwin terminal. You will thank me once you switch to using rxvt. To get rxvt working without starting an X Server, just create a shortcut using the following -

C:\cygwin\bin\rxvt.exe -fg green -bg black -fn "Lucida Console-14" -e bash --login -i

This is assuming that cygwin is installed at c:\cygwin. You will get a foreground of green on a black background. The font used is “Lucida Console-14”.