Final answer:
The number of ways of distributing two identical blue pens and three identical red pens among three students is not listed among the options provided.
Step-by-step explanation:
In this question, we need to find the number of ways of distributing two identical blue pens and three identical red pens among three students.
One way to approach this is by using a tree diagram. There are two possibilities for each of the two blue pens and three possibilities for each of the three red pens.
By multiplying the number of possibilities at each level, we get the total number of outcomes, which is 2^2 * 3^3 = 4 * 27 = 108.
Therefore, the correct answer is not listed among the options provided.