1 definition by christopher hitchensNHM

Top Definition
A type of party where a large group of young girls compete to see who can mark their unique lipstick color furthest down on the shaft of a boys penis. Rainbow parties mostly likely do not exist but if they do that would be awsome.
You will not find a pot of gold at the end of rainbow parties, but their is an occasional pearl necklace.
by christopher hitchensNHM November 16, 2007

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