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Rainbow Party 

1. A made up word to scare parrents

2. A party/orgy where all girls wear different colored lipstick and suck all the guys penises -- leaving a rainbow effect on it

3. A party/orgy with a lot of people from all different races, African, Calcation Puerto Rican, Asain..
4. A homosexual party/orgy
1. "PARRENTS DO NOT LET YOUR CHILDREN GO OUT TO "RAINBOW PARTIES!" - Oprah
2. "N---a I'm ballin'; My dick been through every color lip gloss" - Lloyd Bank
3. Hey I think I cought jungle fever from a chick at that Rainbow Party last night
4. Silly Billy called all his friends to come to the Rainbow Party

Rainbow Ass 

Any person that when they bend over has hair coming out of their butt. Referred to as a "rainbow ass" because it is popping out as rainbows do from clouds.
"Look at that guys rainbow ass,no one wants one of those."
Rainbow Ass by kgriff January 6, 2012

rainbow pride 

To have pride in being gay, lesbian, bisexual, etc. (GLBT) To be proud of it and show that pride. See gay pride.
Wearing rainbows is an example of showing your gay pride, and that's why it's sometimes called 'rainbow pride'.
rainbow pride by Havok452 April 15, 2006

rainbow it 

to arch something so you are able to catch it
"Hey Mike, rainbow it that so I can get it in my mouth!"
rainbow it by APbio December 9, 2007

rainbow wheeling 

(v) Getting stuck indefinitely on a thought so overwhelming that someone has to turn you off and back on again. (Like a Mac.)
I was so shocked when Josh and Kait broke out into a duet, I was rainbow wheeling until they stopped to take a bow.

Rainbow Compulsia 

Someone who has an inability to draw anything but Rainbows and everytime they see a rainbow is mesmerilised by it and can't stop looking at it. Overall someone obsesed with Rainbows. Is common to happen to people between the ages of 13-25 although has happened to some 6/7 year olds. Seen as a disease by some people but not contagious or serious in any way.
Evie Realised she had Rainbow Compulsia when she found that in her art classes she could draw nothing but Rainbows.