Pink sparkles and blue rings?

[Daisy]

I'm not sure what these things are. They look like things I could interact with, but I can't. Sometimes when walking by something it'll show a blue ring around it. Or it'll be pink and sparkling. But I can't do anything with it? What is it for? How do I interact with it? I also sometimes find treasure chests that are partly see-through but can't seem to interact with them either.

[Marmorkatze]

All these glows indicate, that you can interact with it with a special object.
New objects are unlocked by increasing your level and your weird puppet guide will mention sooner or later that character x got item y for you.
Cinderella, for example, has a magic wand for you.

If I recall correct, blue circles are for the water pistol (given by Donald, last item unlocked) and pink circles were items your magic wand will react to (given by Cinderella, second object unlocked).
The invisible chest can be opened with a magic lens; Aladdin will give it to you (third or fourth item unlocked),

Once unlocked, you can collect them in any order.
And you'll raise your level by doing quests, collecting secrets and doing well on attractions.