Does the 5 year rule for Roth IRA contributions apply to each contribution or when the account started?

For example, say there is a 72 year old (still working) who has had a Roth IRA for 3 years, and they make a 2014 tax year contribution before the April 15 tax filing deadline. When can they withdraw the earnings from that contribution and have the earnings tax free? Do they have to wait 5 years?

I’m also assuming they can withdraw their contribution (but not the earnings) whenever they want without penalty.

Thanks.