The 5 coloured rings blue, black, red, yellow and green represents everyone in different countries. They are interlocking because when the Olympics starts all the Athletes comes together and competes. Baron Pierre De Coubertin is the person who designed the Olympic symbol, with the 5 rings.
When the games start the Olympic flag is brought to the stadium, and then it is hoisted up the flagpole. The 5 Rings appear on a white background. The flag will come down when it’s the Closing Ceremony.