There is no specific corresponding continent towards each of the
rings. One or more of the 5 colours (blue, red, black, yellow and
green)are included in each of the flags that participate in the
Olympics.
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These five rings represent the five parts of the world which now
are won over to Olympism and willing to accept healthy competition.
Blue stands for Europe, black for Africa, Red for Americas, Yellow
for Asia and, green for Oceania.