Is there any methods which I could use to obtain any good quality true colour images from Sentinel 1 SAR Data?
True color images can only be obtained from optical sensors that detect visible light reflected off the Earth's surface. As @jeffrey-evans mentions in the comments, Sentinel 1 is a SAR sensor, which does its measurements using completely different wavelengths.
The measurements are rich enough, however, that they can be combined into several colour composites, which can help you identify patterns on the surface.
I've made an example with EO Browser, combining VV and VH bands into a colour image that has green-ish land and blue water (you can explore the image in more detail yourself). I used VH for red, VV for green and (VV-VH)/(VV+VH) for blue components of the output.
©Copernicus Sentinel-1 data 2018 processed by Sentinel Hub