The yellow and blue has been associated with Ukraine for centuries, and there's no register of what this originally represents. The current flag was adopted in 1992, after USSR broke-up, but a very similar model was used soon after World War I. In modern times, blue is associated with sky, while yellow is for wheat fields. See a typical Ukrainian landmark that explain this interpretation:
EstoniaMore interesting example is Estonian flag:
A historic interpretation gives an alternate explanation to the colors: blue for ancient freedom, black for lost independence and white for a brighter future. Other interpretations exist, however. And some Estonians associate it to the winter landmark in the country: blue is sky, black the tree without leaves and white the snow floor. See a truly Estonian image:
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