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The Rotate Tool is a Viewport Tool that provides you with a manipulator in the Viewport, at the origin of the primary selection, that can be used to rotate a node on world axes, local axes, object axes or screen axes - depending on options available in the Tool Settings pane when this tool is active. The red ring correlates to the X axis, the green ring correlates to the Y axis, and the blue ring correlates to the Z axis. If a node cannot move in one or more of the axes, the ring for each of those axes is not displayed. The center area, between these rings, allows you to free-rotate on all available axes.