Yes. Here are meanings for some of the colors that I’m aware of, based on Jewish sources.
The color red represents blood and sin. White represents purity from sin. For example, many people wear white on Yom Kippur since it is a special day of atonement and purification. Blue is the color of the sky and therefore of spirituality, reminding of God's “Throne of Glory” in Heaven.
Red, white, and blue, represent fire, water, and air, respectively. They also stand for strength, kindness, and splendor, respectively; or, similarly, judgement, kindness, and mercy.
According to kabbalistic sources the color white is associated with the Angel Michael, red with Gabriel, and blue with the Angel Uriel. And white is associated with Abraham, red with Isaac, and blue with Jacob.
