You’re asking about more than fifty years of history involving at least hundreds of decisions.
To summarize: there are many queer pride flags and several rainbow flags for LGBT(QI+) pride. The number of colors in the rainbow flags vary from six to twelve.
Gilbert Baker’s original pride flag had eight color stripes. The number of stripes were reduced for cost savings, because in fabric, some colors were more expensive than others.
Anyhow, I hope you find a game jam you enjoy then look for the Queer Game Jam bundle this summer.
Maybe someone will out together an educational game about queerness or game development. (I don’t think that’s me. I’m leaning toward fantasy quest. But maybe.)