When a beam of white light incident on a prism, it disperse colours at different angles, known as dispersion. This beam will have a colour band, in which all the colours are arranged according to their wavelengths.
If we arrange one of prism in opposite manner, then the dispersed colours merge into white light beam again.
When white light passes through a prism, a band of seven colours is obtained, which is called the spectrum. The seven colours in the spectrum are violet, indigo, blue, green, yellow, orange and red from down to up.