Goshiki (five colors) means blue, white, red, black and yellow originated from Onmyo-gogyo-setsu (The Theory of Five Elements) of the Esoteric Buddhism and these five colors represent east, west, south, north and center, respectively.
五色とは密教の陰陽五行説由来し重んじられた青・白・赤・黒・黄でそれぞれ五色は東・西・南・北・中央を表している。