The Meaning of the Buddhist Flag:
The stripes represent the races of the world living in harmony and eternal peace. The colors symbolize the perfection of Buddhahood and the Dharma, and emanated from the Buddha’s head and body at the time of his Enlightenment. Each color represents a specific value.
Blue: The Spirit of Universal Compassion.
Yellow: The Middle Way.
Red: The Blessings of Practice – achievement, wisdom, virtue, fortune and dignity.
White: The Purity of the Dhamma – leading to liberation, timeless.
Orange: The unshakable wisdom of the Buddha's teachings.
The stacked band on the edge of the flag is made up of a combination of the other five colors. This new compounded color is referred to as the Truth of the Buddha's teaching, or Pabbhassara ('essence of light').