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rainbow party 

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."
rainbow party by The Doctor January 17, 2005

rainbow kiss 

When a guy gives head to a girl while she is having her period, and gets all the blood in his mouth. And a girl gives a guy head, and gets cum in her mouth.

Now when the guy/girl has blood/cum in their mouth, they kiss eachother.
"Hey Melissa, say I give you head when you're having your period, and then you give me head, and then we kiss after."
rainbow kiss by J* December 28, 2003

Chocolate Rainbow 

A gay black guy.
Yo, that nigga Tirrell he tried to put his dick in my mouth; I didn't know he was a chocolate rainbow?
Yum, I wan't that chocolate rainbow.
50 cent is the biggest chocolate rainbow of them all!

Rainbow Sweater 

The act of eating trix, fruity pebbles, and lucky charms then vomiting during sex
At so much cereal that i rainbow sweatered all over my girl friend.

rainbow colors 

Several different colors (flavors) of cough medicine mixed in a cup enabling you to get your drank on. (See "Rainbow Colors" by Three 6 Mafia ft. Lil Flip)
"I got da rainbow colors in my cup"
rainbow colors by O.G. Merk 229 April 19, 2006
A person who is both happy and sad, happy enough to be colourful and sad enough to become distant without reason.
You remind me of a rainbow, so colourful yet so far away.
Rainbow by somekindofstorm September 11, 2015