'The red colour of burning fire (agni) is the colour of fire, the white colour of fire is the colour of water, the black colour of fire the colour of earth. Thus vanishes what we call fire, as a mere variety, being a name, arising from speech. What is true (satya) are the three colours (or forms).
In plain words: The father says a burning fire has red, white and black colors, which come from fire, water and earth. The word "fire" is only a name we speak. What is really there are those three basic parts.