In plain words
The poet, to the Lord: You appeared in the four ages in four colours, white as milk, red-gold, green and dark as a rain cloud. You spurned the two [Madhu and Kaiṭabha] so that they perished. And as guardian of [Arjuna's] army, so that the war would end as your mind had resolved [that Draupadī's hair be tied again], you praised the one of the white horses [Arjuna], fierce in battle.