Like many other people, I too played this game as a child and have great memories of teaching my younger brother and little cousins how to play.  It incorporates learning the colors and taking turns.  This newer version however incorporates more of a story with actual characters to it which was not in my version (I am a child of the 70's) and I found that part to be unnecessary and a bit confusing.  This tends to be a good game for 4-5 year olds and I would definately consider it to be a rite of passage that any child learn to appreciate this game.