Simplify the following text for a Grade 8 native English-speaking person.
Original: A tricolor or tricolor ( three colors ) is a flag or banner more-or-less equally divided ( horizontally , vertically , or , less frequently , diagonally ) into three bands of differing colors .
Simplified: Tricolor or tricolor ( meaning `` three colors '' ) is , in most cases , a flag or banner that has three colors .