I love the color wheel and the possibilities it represents with only 3 simple but primary colors plus black and white. One can make up just about any color. I have a few of my students now working on their own color wheel. Making up a color wheel is a great exercise to do when learning to paint. You learn about the primaries, the secondaries and the compliments of each color. You start to recognize the sublties of color and the emotional impact they have on your work. You also learn how to mix....which is fun and takes practice. You learn how to make your colors POP! and that is exciting....that's when a painting ...ssssssssssings.
I even like the color wheel as a painting onto its self.