I'd recommend using tikzmark:

The parameters passed to \InsertUnderBrace are:
[#1] tikz draw options,
[#2] tikz brace options,
{#3} name of left \tikzmark,
{#4} name of right \tikzmark,
{#5} text to be placed under the brace.
Notes:
This does require two runs. First one to determine the locations, and the second to do the drawing.
This uses the \InsertUnderBrace from Asymmetric overbrace.
Code:
\documentclass{article}
\usepackage{amsmath}
\usepackage{xparse}
\usepackage{tikz}
\usetikzlibrary{calc}
\usetikzlibrary{decorations.pathreplacing}
\newcommand{\tikzmark}[1]{\tikz[overlay,remember picture] \node (#1) {};}
% Tweak these as necessary
\newcommand{\BraceAmplitude}{0.4em}%
\newcommand{\BraceAspect}{0.5}%
\newcommand{\VerticalOffset}{0.4ex}%
\newcommand{\HorizontalOffset}{0.0em}%
\NewDocumentCommand{\InsertUnderBrace}{%
O{} % #1 = draw options
O{} % #2 = optional brace options
m % #3 = left tikzmark
m % #4 = right tikzmark
m % #5 = text to place underbrace
}{%
\begin{tikzpicture}[overlay,remember picture]
\draw [decoration={brace, amplitude=\BraceAmplitude, aspect=\BraceAspect, #2}, decorate, thick, draw=blue, text=black, #1]
($(#4)+(\HorizontalOffset,-\VerticalOffset)$) --
($(#3)+(-\HorizontalOffset,-\VerticalOffset)$)
node [below=\VerticalOffset, midway] {#5};
\end{tikzpicture}%
}%
\begin{document}
$\tikzmark{Left Mark} 1011 \tikzmark{Middle Mark} 1101 \tikzmark{Right Mark}$
\InsertUnderBrace[blue]{Left Mark}{Middle Mark}{B}%
\InsertUnderBrace[red]{Middle Mark}{Right Mark}{D}%
\end{document}