I just thought of something new, regarding Saruman of many Colors. He is a traitor or ‘turncoat.’ He also does ‘turn-coats.’ What is interesting in this concept is its deep symbolism. Not only are all colors weaker than white, and not only does Saruman change “coats,” but his “coat” also changes color continuosly. It is comparable to his constant change in loyalties. He feigns loyalty, for a time, to the White Council and the side of good. He later feigns loyalty to Sauron. But in truth he is only true to his own pride and desires. Throughout his role in Middle Earth, he is continuously shown as playing both sides, skirting the edges, hedging his bets. In some ways, having many colors, does the same. It shows a deepset insecurity in his stature. Not only does he have to dominate every color (ie Maiar/istari), he has to be every color. He resents others gifts and talents. This can be seen, to a small degree, in his taking up smoking and taking an interest in the Shire, like Gandalf.
Like Gollum, and even the Orcs, Saruman is to be pitied. He has nothing, except, perhaps, his “coat.” Otherwise, he is only a shrivelled up corpse inside, as is shown at his death. Yet even then, some part of him remains, regretting his choices and yearning to the West he’s denied.