This art is based on a drawing in the book Pardes Rimonim written about 500 years ago by the holy Kabbalist Rabbi Moshe Cordovero.
The drawing is the first letters of the Sefirot of the Tree of Life inside of each other.
The Tree of Life is the divine map of spiritual consciousness discussed in Kabbalah. These 10 aspects of our inner self and levels of divine experience are called Sefirot.
The 10 Sefirot and one of many ways of describing them:
Keter Divine Source
Bina Unconditional Love
Chesed Loving Kindness
Malchut Central Point in the Heart
A chapter in Pardes Rimonim discusses various color associations with the Sefirot. The colors in this picture correspond to one of these.