We report simultaneous multicolour observations in 5 bands (U BV RI) of the flickering variability of the cataclysmic variable AE Aqr. Our aim is to estimate the parameters (colours, temperature, size) of the fireballs that produce the optical flares. The observed rise time of the optical flares is in the interval 220 -440 sec. We estimate the dereddened colours of the fireballs: (U − B)0 in the range 0.8-1.4, (B − V )0 ∼ 0.03-0.24, (V − I)0 ∼ 0.26-0.78. We find for the fireballs a temperature in the range 10000 -25000 K, mass (7-90)×10 19 g, size (3-7)×10 9 cm (using a distance of d = 86 pc). These values refer to the peak of the flares observed in U BV RI bands.