Yellow:
Rich natural resources
Blue: 
The Caribbean Sea
Red:  The blood of the Independence heroes

Stars:
7 Provinces that signed the Independence Act + Guyana

The Venezuelan Flag has three stripes. On the blue stripe there are eight stars that symbolize the 7 provinces that signed the Independence Act on July 5,1811
  In 2006 the President of Venezuela Hugo Chávez ordered the addition of an eighth star which represents the Guyana Province.

Thflag is a variant of that designed by Francisco de Miranda  for his 1806 expedition to liberate Venezuela.  This flag was also the inspiration for Colombia and Ecuador’s flags

The flag of Venezuela was adopted on March 12, 2006.

El Día de la Bandera or the Fiesta of the Venezuelan Flag is celebrated every August 3. Until 2006 it was celebrated on March 12.