A "rainbow baby" is a baby that is born following a miscarriage or still birth.

In the real world, a beautiful and bright rainbow follows a storm and gives hope of things getting better. The rainbow is more appreciated having just experienced the storm in comparison.

The storm (pregnancy loss) has already happened and nothing can change that experience. Storm-clouds might still be overhead as the family continue to cope with the loss, but something colourful and bright has emerged from the darkness and misery.
"We lost our last pregnancy, but now we have a rainbow baby."
by fl0wer February 17, 2010
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A baby born after the loss of a child.

Examples: A child that is born alive and survives after a miscarriage, stillbirth or the death of a child of any age.
"Jordan is my rainbow baby 🌈. After the loss of my child I didn't think I could go on, but then I found out I was having a baby and I knew she was going to be someone worth sticking around for.

I miss eldest child every day, but her rainbow baby sister carries on her name and we live on to make her proud."
by Hilarityrarity December 18, 2021
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Babies born with an array of hair with varying pigmentation.
Man, Jennifer had this weird Rainbow Baby on Thursday, he looks like a clown.
by Rainbowbaby6.66 August 25, 2019
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A double rainbow baby is a baby that is born are two stillborns or miscarriage.
Look at her, she’s so excited to finally be holding her double rainbow baby.
by Chichiyee November 18, 2017
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