When a person changes lipstick several times while felating a penis, and leaves a rainbow colored hue on said penis. Ref: Jeffrey Budzynski- contemporary American, Floridian, rainbower of police penises.
The term is used when a person or family member is accused of “turning” a younger member of the family/child gay. The term is only applied if the old person is themselves identifies as gay.
Guy 1: OMG LOOK AT THE LOW PRICE!!!!! ITS SO INTENSE!!! (**he faints**)
Guy 2: (to guy 3) Whats wrong with that guy?
Guy 3: Oh nothing hes just double rainbowing over the low prices.
And dying in yo' bed many years from now, would ya be willing ta trade all da days from dis here day ta dat fo' one chance, just one chance, ta come back here as young men an' tell our enemies dat dey may take our lives but dey will never take our freedom ... YUB NUB!