I know I can easily do this problem by drawing the possible necklaces, but I am trying to understand how to do it so I can do problems with way more possible arrangements. I am trying to use the following formula, in the context of group theory.
$$\# \mathrm{Orbits} = \frac{1}{|G|}\sum_{g\in G}|\mathrm{Fix}(g)|$$
Where $G$ acts on some set $X$, and $\mathrm{Fix}(g) = \{x \in X :g\cdot x=x\}$
For this case I know there are $\frac{4!}{2!2!}$ possible initial arrangements of the beads but after this I am lost.