Google reveals:
Two wires (normally referred to as a "pair") are needed for most telephone connections. One of the wires in a pair is referred to as the "tip" and the other is called the "ring". Color code schemes are used to identify wires within a cable.
You may encounter two different wire color schemes while working on your phone wiring.
The simplest color scheme is used on normal station cable (what your phone tech may call "JK"), which has only two pairs of wire. The first pair has one green wire ("tip") and one red wire ("ring"). The second pair has one black wire ("tip") and one yellow wire ( "ring"). For a single phone line, only the green and red pair are normally used. The black and yellow pair is normally spare and available to install a second phone line.
If I remember correctly, attach tip to green and ring to red. No cutting involved, just clip in with alligators and you'll be good.
Terry