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Rainbow race 

When a group of girls (each wearing a different color lipstick) perform oral sex acts on a group of guys. The man to collect the most colors, on his johnson, after a given time wins the "rainbow race"
We convinced a group of girls from the SUC sorority to help us with the rainbow race during rush.

Rainbow Elmo 

when you're in the middle of a sexual encounter with a partner, and begin thinking about old kids television shows, and as you climax, you make the sound of Elmo laughing.
"Yeah, he fucking Rainbow Elmo'd all over my face"
Rainbow Elmo by ShadowApples August 31, 2015

Rainbow Cocaine 

When Smarties are crushed into a bag to form a powder like substance
"Hey there kid wanna buy some Rainbow Cocaine"

Rainbow Coalition 

A name used for the LGBT community, being that the "Rainbow" is often associated with being non-heterosexual.
My partner and I are part of the Rainbow Coalition.
Rainbow Coalition by Ur-M0mma July 18, 2019

Rainbow Animates 

A YouTuber who uses a Gray Cat named Rain and A Purple Demon named Mistake.

(I might of not spelt the character’s name right..) They post almost every day, but sound younger than 18.
WOAH ITS THE AMAZING YOUTUBER NAMED RAINBOW ANIMATES!!! :0

Rainbow people 

A type of neohippie who all live together and have a love in party every first week in July in the national parks where everyone is welcome and there are lots of free sex,drugs and mind blowing acid rock music.
Lets go see the rainbow people.