Question about elevation on Map my Ride - help please

[Bike Writer]

I am unsure how to read the elevation data on Map my Ride. I've included a screen shot of a hill that I mapped. There are different colors on the map but I am unsure of what they represent, are they examples of steeper or more strenuous sections of the hill? Is this even considered much of a hill? I know that last question is relative to the part of the country you are in and in mountainous regions this is a blip on the screen. I would like to know more about understanding the elevation feature on map my ride.