Metaphorically meaning "Natural Happiness". Since water is a pure and natural substance and a Rainbow symbolizes happiness than combining the words is just a metaphor for Natural Happiness. So being on a Water Rainbow basically means that you are just Naturally Happy.
David: "Yo, how you always in such a good mood?"
Mark: " Man i just always stay positive by being on the water rainbow"
Henry: "Yo are you high or something, what are you on dude?"
Jordan:" Naw man I stay drug free, im just on that water rainbow
its where a guy fucks abunch of girls in the ass and it leaves shit rings on his dick thats a chile rainbow off duece bigalo european gigalo
Assapopulous just performed his signature move the chile rainbow!
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Dicks lots of dicks one thousand dick dick dick dick dick dick dick dick dick dick dick dick dick dick dick dick lots of dicks
A man named Alex is a rainbow cunt
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Filling one's anus with skittles and receiving anal sex from an Elvis Impersonator. The resulting mixture of semen, skittle colors, maybe a little blood and hopefully some lube is a 'Memphis Rainbow'
Never blackout on Beale Street or you may wake up to a Memphis rainbow...
She is such a freak, I'd bet she'd taste the Memphis Rainbow
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To go rainbow on something comes from the phrase "colorful language."
It basically means swearing at someone.
I almost went rainbow on some idiot today.
I wanted to go rainbow on that asshole.
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A homosexual redneck. A hillbilly who is part of the LGBT+ community.
Those dang rainbow necks with their moonshine and drag shows are sure loud!
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A lesbian fusion (based on pearls feelings) of pearl and rose quartz, from a tv show on Cartoon Network called Steven Universe
Rainbow Quartz is a sexy fusion, except for her two pairs of eyes
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