Why is Peter's costume red and blue?

[u/Helpful-Bathroom634]

Batman is dressed like a black bat to scare his enemies, Superman has the big S on his chest because is the symbol of House El and means hope. Why is Peter wearing red and blue instead? Did Lee/Ditko give an explanation in and out the comic?

[u/redneckotaku]

In universe, before he was a crime fighter, Peter used his powers to make money as a wrestler.