If the goal is just to draw the lines, then hgtransform is a good solution. You would do something like this:
g = hgtransform;
line([0 1],[0 0],'Parent',g,'Color','red')
line([0 sqrt(2)/2],[0 sqrt(2)/2],'Parent',g,'Color','blue')
Then you can rotate it like so:
g.Matrix = makehgtform('zrotate',pi/3);
The makehgtform command has a lot of options for different types of transformations, and it returns a matrix that you can use to transform the points of your lines yourself if you want to do more than just draw them. But the matrix is a 4x4. The idea is that you pad out the coordinates of your lines with 1's until it's a four element vector.
