The light waves are refracted as they enter and leave the prism. The shorter the wavelength of the light, the more it is refracted. As a result, red light is refracted the least and violet light is refracted the most - causing the coloured light to spread out to form a spectrum.
Answer: Neither, its actually violet aka purple. This is because it has the shortest wavelength. This is also why red light is refracted the least because it has the longest wavelength.
