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Rainbow Bag 

A plastic grocery (liquor store/beer store) bag filled with every flavor of Four Loko which come in many assorted color cans therefore making the bag look like a rainbow. Four Loko is constantly releasing new flavors so it is hard to keep up with them all which is why a rainbow bag only needs to have at least all 5 of the "original" flavors : Fruit Punch, Orange, Uva (Grape), Watermelon, and Blue Raspberry. Watermelon and Blue Raspberry were not "original" flavors but are the 2 oldest flavors that weren't launched with the company.
John: What did you get man?
Tim: Got us a fucking rainbow bag!
John: Oh fuck, good looks son, were gettin' wasted tonight.
Rainbow Bag by ajnjc May 18, 2010
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Gayer than a bag full of rainbow colored rubber dicks

Used to describe something or someone that is very gay.
Look at Justin's shirt. That thing is gayer than a bag full of rainbow colored rubber dicks.

Rainbow Bagel 

A Rainbow bagel is a homosexual/queer version of the breakfast item: Bagels
Yo, homesquare would you care for a rainbow bagel since you are openly queer.

rainbow baggers 

Mike Pence's personal gay conversion therapy squad, named for the rainbow bags they put on people's heads when they kidnap them.
rainbow baggers by Kite00 January 24, 2018

Rainbow Bagel 

Who was the hot, fit guy Meghan was chatting with last night? That is Doug, not her type, he loves rainbow bagels
Rainbow Bagel by rnnrdad March 19, 2023

Rainbow Bagel 

Gay guy 1: Oh man I can’t wait to ravage your rainbow bagel!!!!

Gay guy 2: Oh hurry home babe!!!
Rainbow Bagel by whiteguy 32 June 8, 2022

rainbowbug 

Divine virus sought out by bugmen.
Sodomus Prime has the rainbowbug.
rainbowbug by Brutus Autry June 10, 2019