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Twelfth Night,
Act 1, Scene 5, lines 14-15.

Note to Twelfth Night, 1.5.14-15, "Well, God give them wisdom that have it; and / that are fools, let them use their talents."

This is the clown's mockery of Maria's attempt to give him help in his foolery. She says that she know where the phrase "I fear no colours" originated. The clown asks where, and Maria replies, "In the wars," which is probably true, and also fairly obvious, since military standards, flags, banners, etc. have long been called "colours." Maria then adds, "and that may you be bold to say in your foolery," meaning that he has permission to use her factoid [an item of information accepted as a fact, although not (or not necessarily) true] in his jokes. To this the clown replies, "God give them wisdom that have it," which sounds foolish, since (it would seem that) the wise don't need wisdom, but the clown's words mean something close to, "You're smart, but not as smart as you think you are, if you think you're telling me something that's funny." Then the clown adds, "and that are fools, let them use their talents," meaning, "as for those who are professional fools (such as myself), we need to make up our own material, and don't need any help from the likes of you."
Peter Upcher as Feste the Clown at Tenby, 1951
Feste the Clown painting