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rainbow jizz 

Rainbow jizz was originally thought up to be the coolest thing ever,
and to outdo purple jizz.
It is often used to burn someone really bad, but can also be used as a complement.
If you're trying to pick a chick, it works pretty well, also.
burn:
Gina:"how about that guy?"
Kaila:"ewww! Fuck no, i wouldn't fuck that guy if he had rainbow jizz."

Complement:
Gina:"What about him?"
Kaila:"Oh he's so hot, he's better than rainbow jizz."

As a pick up:
Micheal:"hey."
Kaila:"eww."
Micheal:"I jizz rainbows."
And the babymaking begins

Rainbow Bullets 

The act of four men with different colred condoms having sex with one woman at one time.
Dude John Me, Chris and Alex just did sick Rainbow Bullets on Katlin.
Rainbow Bullets by Jawnofthedead December 1, 2009

rainbow six siege player 

a absolute sexy mother fucker, packing at least 12 fucking inches and have milfs give slop top while they’re fucking your daughter
dang i really wanna fuck a rainbow six siege player

Rainbow Nationalism 

The end-goal of all the rainbow flags is for everyone to be gay and to have polygamy. We need less people on the planet. We need kids to identify as trans. We need gay ads everywhere. We need pride parades in churches.
We brought the rainbow pride flags into the middle school and had them pledge allegiance to our gay future of rainbow nationalism.

Rainbow Parties 

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.
Rainbow Parties by BRD July 27, 2005

rainbow party 

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.
rainbow party by ag97 March 14, 2005