Nicaraguan Flag Meaning: The two blue stripes represent the Pacific Ocean and Caribbean Sea; while white symbolizes peace. It also symbolizes that the color blue symbolizes justice and loyalty; while the color white represents virtue and purity. The coat of arms features an equilateral triangle which represents equality. Inside the triangle are five volcanoes, which represent the five members of the federation. The triangle also contains symbols of liberty and peace - represented by a red Phrygian cap, white rays and rainbow.