Here’s what the code from Turtle Challenge #344 draws. This picture was made by running the code for real.

The answers
How many circles will the turtle draw? 9 circles, one each time round the loop.
Why does the turtle turn 40 degrees after each circle? Because 9 × 40 = 360, so the circles spread evenly all the way round, like petals on a flower.
What colours will the circles be? They take turns: forestgreen, royalblue, darkorange.
How the code works
t.circle(50) draws a whole circle and brings the turtle back to the same spot. Turning a little between circles makes a flower pattern.
import turtle
t = turtle.Turtle()
t.speed(0)
t.pensize(2)
colours = ["forestgreen", "royalblue", "darkorange"]
for petal in range(9):
t.pencolor(colours[petal % 3])
t.circle(50)
t.left(40)
t.hideturtle()
turtle.done()
Try it: What happens if you use t.circle(50, 180) instead? (That draws half a circle.)