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1.
It all started when this loser couldn't pronounce the words Rainbow Sprinkle. And he pronounced Rainble Sprinkow, thus a mixture of the two was to be pronounced "Rinko". The kid who couldn't pronounce is presumed to be gay...so the definition is...

- A huge Idiot, Wuss, Queen, and loser
You're such Fucking Rinko, you faggot!!