The squares represent:
Under the B:
Blue daisies, Blue coated pirate, blue background baseballs, blue eyeballs, blue dragonflies
Under the I:
yellow roses, yellow butterfly, yellow chicks, yellow background letters, yellow background stars.
Under the N:
red background dog, red bricks, center space (black), red leaves, red cherries.
Under the G:
green swirls, green leaves with ladybugs, green golf course, green background hearts, green swashes.
Under the O:
purple bubbles, purple paisley, purple circles, purple triangles, purple polka dots.