Performer displays three different color silks (red, yellow and green) tied at one corner.  Two of the silks are held at their free corners, with one silk hanging down like a “Y”. He passes his hand over the silks, and they transform into 3 multicolor silks, each colored red, yellow & green.  Silks are freely displayed once again.  

The effect can be repeated, by changing the multicolor silks back to three different colors.