I don't think bumbles are meant to imitate anything really.
The more colourful ones are basically mini-lures (as are most wet flies when you think about it) and the drab ones are, well, drab mini-lures.
What the trout take 'em for? Who knows...
I think the way they are usually fished means the trout are faced with a "use it or lose it" dilemma & they take either because they think it may be a food item of some sort, or (and in my opnion more often likely) they are simply curious about what this fly is. Trout are very poor at inspecting items of interest with their fins, so fortunately for us they have a good munch instead