The little squares are your pallete. You can see with how many colours you worked, and you could later use them as reference.
On to the piece: insects are one of THE hardest things to draw. I admire your pick, but be warned.
The wings really look kind of wrong. first of all, they look heavy to me. choose a lighter color. also, the wings are supposed to originate from more or less the same point. now their origins are too far away from eachother. You could also add those streaks the wings have - like veins or smth.
Apart from that I like the cartoony style.

Personally i think it needs more contrast for more depth.

Edited by Xero

Contrast is the difference between the darkest and lightest colours.
By adding contrast you generally increase the perceived depth of the image.
Yes, I would advise you to gather as many reference images as possible when you do something like that. Google is a good place which many of us use.
And yes, better not overwrite your images so we can see the progress (not that I haven't done that a few times)

Um, this latest image you've posted looks like a thumbnails rather than the actual image. It's zoomed out. Could you show us the actual pixels, because its much harder to critique and give advice otherwise. Your low contrast is leading to the higher amounts of shades you are using for each colour. Like, you are using 5 indigo-ish blues for the main body colour of the wasp, you could probably get away with using 3, just with more of a different in brightness/darkness between them.
Same could be said with the wings, probably 3 or 4 would be enough, rather than 6.
And yet again for the yellow.
Try removing colours that are very close to other colours, one at a time, if the difference is managable, leave the colour out. Keep removing colours until you have the bare essential colours left that you simply cant remove without ruining the picture.

Also, The legs on wasps from memory aren't divided like that, it looks like 2 of them are closer together and the other is left out further down the body all by itself . I would evenly space the legs.
The black outlines you are using is what is called for the large amounts of anti-aliasing you are doing, which again is using a lot of colours. Try outlining in a colour, like you did for the wings.

That's my advice. Keep going, it's great to see your effort.