[Washi]

...the colors on that flag match up to the unique colors of the gay flag,

ROY G. BIV

Red. Orange. Yellow. Green. Blue. Indigo. Violet.

It just looks like a rainbow colored kite to me.

That doesn't mean it's not meant to be a gay symbol, but a rainbow pattern is pretty common in kid's arts and crafts projects.

[Rightwing Conspiratr1]

ROY G. BIV

Looks Like ROY G. BV to me.
Indigo has a long history of being repressed.