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A Rainbow Magnet refers to anything that attracts people from the Lgbtq community. Could range from anything from items, trends, memes, shows, games etc..
Could imply something negative but mostly used for inside jokes and mean no harm.
Scenario 1
Person 1: Have you seen the pilot episode of the amazing digital circus on youtube?
Person 2: Yes its amazing!
Person 3: I can see now why the show was labeled as a Rainbow Magnet.
Person 4: Huh?
Scenario 2
Person 1: Hey look at this meme
Person 2: Is it another one of those jokes only some people understand? Must be a rainbow magnet.
rainbow magnet is used to describe something that mostly attracts people from the LGBTQ+ community, it refers to a place, event, product, or concept that is particularly appealing or welcoming to individuals who identify as lesbian, gay, bisexual, transgender, queer, or other diverse sexual orientations and gender identities.
The new show is a rainbow magnet!
I heard that place is a rainbow magnet
Do you know any rainbow magnet spots in town?