Yellow Army Attacks Blue Kingdom? Fantasy/ Magic Film

I remember as a child I watched a movie that may have been low budget. I’m not really sure. The movie is set in a fantasy world with magic similar to a medieval era kinda thing. What I do recall from the beginning of the the movie is an army using some kind of yellow magic is attacking a kingdom that uses some kind of blue magic. I believe they are after a ring that contains blue magic. The king and queen of the blue sent their son to escape during the chaos and leave the blue magic ring with him. What happens after that I don’t recall. Its been a really long time. I believe I watched it in the late 80’s Early 90’s but not sure if that’s when it came out.

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