Why are there five circles?
If the question refers to Olympic symbol -
then each circle represents each of the five continents
The five different coloured circles simply represent the five continents that were involved in the Olympics at the time of its creation. Of course, there are a lot more participants now. However the logo has not changed. The designer of the emblem said, "These five rings represent the five parts of the world which now are won over to Olympism and willing to accept healthy competition."
The Flag of the International Olympic Committee is a white field. On this are five circles in two rows. * The top row moving from the flagstaff, are blue, black and red. * The second row are yellow and green. * The yellow circle interlinks with the blue and black circles * The green circle interlinks with the black and red circles. No other circles are linked.