Red like roses fills my dreams and brings me to the place you rest

White is cold and always yearning burdened by a royal test

Black the beast descends from shadows

Yellow beauty burns gold

R=Red most people take it as Little Red Riding Hood because of the choice of clothing and the fact she fights wolves

W=White people take it as Snow White simply because she became Royalty at the end of the story (crown in siloette)

B=Black The girl has "cat ears" and a whip/tail taken to be Beast

Y=Yellow has been taken as Belle (beauty) as well as Goldilocks (Gold/Yellow hair)

doubtful any of this is true since this is an original piece

Another note, the song is the Theme song for the Series