The word Chakra is Sanskrit for wheel or disk. It signifies one of seven basic energy centers in the body which are the openings for life energy to flow into and out of our aura.

Each of these centers correlates to major nerve ganglia branching forth from the spinal column. In addition the Chakras also correlate to levels of consciousness, archetypal elements (Jungian concepts), developmental stages of life, colors, sounds, body functions, and more.

Below is a brief description of each Chakra, including a shape and color which is considered significant .

Chakra One: MULADHARA . Bija Mantra LAM .Earth, Physical identity, oriented to self-preservation.  Located at the base of the spine, this Chakra forms our foundation.

It represents the element earth, and is therefore related to our survival instincts, and to our sense of grounding and connection to our bodies and the physical plane. Ideally this Chakra brings us health, prosperity, security, and dynamic presence.

Chakra Two: SWADHISTANA. Bija Mantra VAM . Water, Emotional identity, oriented to self-gratification
The second Chakra, located in the abdomen, lower back, and sexual organs, is related to the element water, and to emotions and sexuality.

It connects us to others through feeling, desire, sensation, and movement. Ideally this Chakra brings us fluidity and grace, depth of feeling, sexual fulfillment, and the ability to accept change, creativity.

Chakra Three: MANIPURA. Bija mantra RAM. Fire, Ego identity, oriented to self-definition, personal power.

This Chakra is known as the power Chakra , located in the solar plexus. It rules our personal power, will, and autonomy, as well as our metabolism.

When healthy, this Chakra brings us energy, effectiveness, spontaneity, and non-dominating power, charisma, radiant health.

Chakra Four: ANAHATA. Bija Mantra YAM. Air, Social identity, oriented to self-acceptance
This Chakra is called the heart Chakra and is the middle Chakra in a system of seven.

It is related to love and is the integrator of opposites in the psyche: mind and body, male and female, persona and shadow, ego and unity. A healthy fourth Chakra allows us to love deeply, feel compassion, have a deep sense of peace and centeredness.

Chakra Five: VISHUDDHA. Bija mantra HAM. Sound, Creative identity, oriented to self-expression
This is the Chakra located in the throat and is thus related to communication and creativity.

Here we experience the world symbolically through vibration, such as the vibration of sound representing language. Intuition, spiritual and prophetic dreams, high creativity.

Chakra Six: AJNA. Bija mantra AUM. Light, Archetypal identity, oriented to self-reflection
This Chakra is known as the brow Chakra or third eye center. It is related to the act of seeing, both physically and intuitively.

As such it opens our psychic faculties and our understanding of archetypal levels. When healthy it allows us to see clearly, in effect, letting us "see the big picture." 

Activated, Ajna chakra bring us High intelligence, discernment, discrimination, strong memeory, as well as psichyc faculties as teleportation, out of body experiences, astral visions, prophetic dreams, knowing present/future etc, deep meditation states.

Chakra Seven: SHAHASHRARA. Bija mantra MAH and OM. Thought, Universal identity, oriented to self-knowledge

This is the crown Chakra that relates to consciousness as pure awareness. Some refer to it as a "god source." It is our connection to the greater world beyond, to a timeless, spaceless place of all-knowing.

When developed, this Chakra brings us knowledge, wisdom, understanding, spiritual connection, and bliss - States of Samaddhi.

Chakra Eight is the Kundalini Chakra or BRAHMARANDRA. 

This is not really a Chakra per se. However, it's location would be just above the Crown Chakra. It would engulf the entire body in it's energy sphere and have it's focal point like that of an ovular field. It's form mimics that of a serpent thus it's reference as the Kundalini serpent.

It's foundation and basis is in Cosmic consciousness. The awareness is a part and required within this level.

The existence and development of the Kundalini serpent will mark the individual with a permanently co-existing connection awareness to IT/TAO/GOD. Abilities : projection of the Consciousness into higher realms in Universe, conscious projection of consciousness into another consciousness ( tibetan Phowa)