Character designs for the new version of Lexicon. The original five were each represented by a primary color, black, or white. Originally these were five of many more characters, but over time the number has grown to seven and other NPCs have been cut
In this version, humans that practice magic gradually transform into elves based on the kind of magic that they use.
Every school of magic is represented by one of the characters and some are meant to resemble common fantasy races, such as orcs or high elves. Since anyone can become any kind of elf there's a huge variation even within schools, but they all have similar color schemes.
As elves continue to practice magic they can transform even more, especially if they overuse it. The second transformation is a dragon, indicated by a change from human to animal parts.