Warrnambool Art Gallery's Black & Gold - a name borrowed from the discount brand - is a collection of works which aim to encourage residents to question the colours' value not only visually, but also as substances and definitions of ideas and forms.

Among some of the artworks on display is a dark human figure with elongated legs reaching for the clouds in a relaxed gesture from Australian Chinese artist Guan Wei, while Kate Rohde's 'Black Mirror' pulls viewers into an other-worldly realm of darkness.

The space also features photographer Polly Borland's portrait of Queen Elizabeth ll, bordered with gold, which reminds viewers of empire and pomp and ceremony. Borland was one of just six artists invited to photograph the Queen at her jubilee in 2002.

Woodford-based artist Barry Tate said the meaning of his ceramic piece, which depicts cherubs, was up to the public to interpret.

"Art is a great vehicle for putting your home-made philosophy out there, but trying to explain it is very, very difficult," Tate said.

"Hopefully people see the work and connect with the title and pick up what they think about what emotions it evokes, rather than me try to explain it."

While the gallery is open to the public, between 26-28 November artist Gosia Wlodarczak will contribute performance artwork by drawing forms and words in gold on the black walls surrounding the space.

WAG Director Vanessa Gerrans described the evolving exhibition as immersive. "In this tongue-in-cheek play on brand and value, black is flat and holds no light until it takes an eloquent form, so too the garish yellow of cut-price manufactured sustenance pales as the reflection of gold, gilt and bronze illuminate creativity and reflect the mastery of well-expressed ideas and artistry," she said.

The exhibition will run until January 30, 2022.

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