I have a 47inch vizio flatscreen. I am trying to hook up a dvd vcr combo. I have 5 wires yellow red and blue and 2 white. How do I do this. I am not to sharp at this

You may be referring to "Component Video" which takes Red, Blue and Green for Video, and a different RED and a white for Audio.
There is also Composite which is not as good a quality, which uses Yellow for video, and a red and white for Audio.

The color of the cords does not matter, it is used for convenience to make sure that you are plugging the same cords into the same input/output combo from the source to your TV.

On most DVD/VHS players, the component (red, green, blue video, white and red audio) will only output DVD. So then you would also need to use composite (yellow video, white and red audio) separately for the VHS.

The composite connection will work for both and you will not need to use different inputs for your DVD and for your VHS. However, as Strat mentioned, your picture quality on DVDs will not be as good.