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2.
The act of being homosexual or taking part in activities only an individual who is homosexual would take part in.
Sarah: "John was rainbowing so much at the party last night."

Eric: "I know. All that PDA with Ben was disgusting. We all know he's gay. He didn't need to show it."
by dghul May 29, 2009
 
1.
when different girls each put on different color lipsticks and suck a guys dick and leavs a mark of the lipstick color on it
"yo dude i went rainbowing last night with jess, jess, lis, and kira!"
by Jess November 14, 2003
 
3.
The act of eating out a female whilst they are having their period.
Nick spent his time eating Sarah out, and when he rose Sarah noticed blood around his lips.
by Dark Kitten April 09, 2005