Not familiar with it.
My high school colors were blue, green, and white. Better than middle school which had orange and blue.
Id always heard it as red and green, never to be seen.
Which is why silly Christmas party garb is always so garish-seeming.
And why more reserved Christmas party garb is often accented with red or green, but not both.
Indeed, but ‘tis the season for garish.
I can look (vaguely) sensible the rest of the year 