Blue streamer could start when you enter in the ropeway (so you have to stop,in this case, the red one when you enter it)and stop when you go on the canoe. The yellow one starts and then he ends when you free captain T.Ode (or maybe when you enter into the yellow pipe). Then the purple one starts, and ends when you smash It. The green one starts and It ends when you free bowsers (or maybe when you smash the green streamer). Then there is the final phase that starts when you smash the streamer (or when you free bowser) and ends when you get in Front of Olly's castle. Then Olly's castel starts from it, and ends when you kill the stapler. King olly starts from it and ends when you kill him.
It would be great to start the timer for the red streamer at the start of the speedrun and the stop it when you smash the streamer or maybe when you get the confetti up. The you keep it and you do this with all the streamers