Lyric discussion by Atemporal 

Ok i think i get it now. By encompassing himself as a rainbow and(aside from other references to the queen's gown and blue oceans) describing each color as a different emotional state that is bold in it's own right, i think he's describing love as a rainbow through metaphor. He uses a vast range of colors to describe himself as confident, daring, unsteady and not so mellow. When you're in love you can feel a lot of things like this, sometimes all at once and it confuses the shit out of you. So in a way all his colors are confusing him and holding him back from this girl he's talking about. He even follows the color spectrum ROYGBIV but he starts in the middle. Often times true love waits(yea radiohead) and no one gets what they want right away. Both people have to give up certain things, games that they're playing etc; and meet themselves halfway, in the middle, and fall mutually in love(good luck).

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