It was one we used to watch in school. I don't remember much. Just that two kids, a boy and a girl, enter some kind of magical land where they are told that the land has lost its color (or has been stolen, I don't remember). There is a man in a white striped suit and he gives the kids a monocle to look through and they must help I'm find the colors. As they find them the colors return to the suit.
