When a young group of teenagers goes to a party and each girl wears a different colored lipstick. Then all the boys line up and each girl proceeds to "go down" on the boys. The girl with her lipstick farthest down on the most boys is deemed "winner"
"'Mom! My throat is too sore from last night's rainbow party!' 'It's ok, sweety, you can stay home from school today'"
by NicoleCousins September 09, 2005

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A type of party where several girls wear a different color of lipstick then each proceeds to give one or more guys a blow job. The multiple of colors left on each guy's penis resembles a rainbow.
Phil had 3 colors of the rainbow on his penis before ejaculating into Suzie's mouth at the rainbow party. Pamela and Vicky waited for him to get hard again before completing the rainbow.
by BRD October 10, 2004

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Supposedly a party where each girl wheres different shades of lipstick and go to a party and suck guys dicks so the dicks are like rainbows when its over. But really, the stupid bitch Oprah made up the word cause she is a dumbass and hates children..
Oprah: Make sure ur children dont go to rainbow parties.
Parent: whats a rainbow party?
Oprah: something i made up to get your children in trouble for absolutly no reason..
Parent: That sounds pretty mean but since your like a god and all i have to listen to you.
Oprah: i want to eat your babies.
by kkkramer August 13, 2004

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A word that was made up by Oprah in order to lure parents to be overly cautious for absolutely no reason.
Oprah: "Your daughter is a slut, she goes to rainbow parties, so lock her in a stone cell for the rest of her life, because I'm Oprah and I know everything!"
by Vega October 04, 2003

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The thing that causes an outbreak of herpes among the freshman class at Kapaun Mt. Carmel in Wichita.
Those girls, after the rainbow party was finished, noticed small sores on their lips.
by ag97 March 14, 2005

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Supposedly a party where girls wearing different colored lipstick all have oral sex with one or more guys, leaving the guys with a "rainbow" colored penis. Some people appear to believe that it's just an urban legend.
"I felt left out because I only had six different colors of lipstick on my dick when I left the party."
by The Doctor January 17, 2005

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A "rainbow party" is supposed to be a party where girls wear different shades of lipstick and suck a guy off. In actuality, it is a term invented by Oprah and no teen had heard of it until her show in 2004.
Oprah invented rainbow parties so parents can lock up their teens and send them to boarding school.
by C March 14, 2005

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Parties where several girls wear a different color of lipstick then each proceeds to give one or more guys a blow job. The multiple of colors left on each guy's penis resembles a rainbow.
I've been to two rainbow parties now. I didn't last long at the first one seeing all of those girls giving head at the same time with the different lipstick. Julie had me first with yellow lipstick, and I blew my load in her mouth within a minute or two. When my penis was less sensitive a little later, Karen gave me another one with her bright blue lipstick. Since I didn't cum, Pamela took over with her green lipstick when the bell was rung. She asked me to cum on her chest if I needed to, and after I did, I was done for the night.

At the second party, I was more relaxed, and before the end of the night had let each girl leave her mark.
by BRD July 10, 2005

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