I have always heard the colours recited the same as the US flag: Red, white and blue.
As opposed to the French who recite their colours: Blue, white and red.
The American flag that was finally adopted (there were many originally including the famous Don't Tread on Me flag) generally "borrowed" the British colours although the tone of those colours are slightly different (deeper and darker blue and red).
I'm a flag collector. I have many up in and around the house as decoration inlcuding the British Union flag, the Welsh dragon flag, the Scottish flag (St. Andrews flag), the American flag (of course), the flag of Ohio, the rainbow flag (of course

) and the flag of the State of Alaska for my partner who lived there for a long time.
[This message has been edited by tutnkmn (edited 07-10-2010).]