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1. A very colorful, very homosexual fish.
2. A word most commonly used in the phrase, "Peace out, Rainbow Trout."
Person1: Hey man, I gatta go; there's pandas mauling my grandma. Peace out, Rainbow Trout!
Person2: Yar, peace.
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A poop that is so big and so long that parts of it are sticking out of the water in the toilet bowl and are changing color due to oxidation.
Garrup hasnt pooped in 4 days, but today he finally made a rainbow trout and feels relieved.
A good looking girls pussy. Opposite of Brown Trout. See definition.
When a good looking girl walks past: "Trout! Definately Rainbow trout!"
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The after-effect of a rainbow party.
The result of one's trouser trout or slimy swimmer to be covered in multiple colors of the rainbow after a lass and her friends have each taken a turn slobbing on the knob with various shades of lipstick on.
Typically, the owner of said rainbow trout has no recollection of the events during or after the rainbow party. This is because large quantities of alcohol and/or other substances are enjoyed during.
"Did you see Ted's rainbow trout? It took three early load drops but they got every color lip-painted like champs!"
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A piece of Poo similar to the species the Brown Trout however this one has visited a Rainbow Party and gotten a full set of lipstick rings on it.
The girls at the party were so nasty I cant believe they gave me the Rainbow Trout.
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A Bunch of Gay Faggots in a circle jacking each other till they're blue
"Hey wanna come and be a Rainbow Trout?"
"Get your hands of me James Charles!"
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When someone from the LGBT community catfishes someone.
Frank: John thinks he met the perfect guy online. I looked him up though and I'd bet my bottom dollar that someone is rainbow trouting him.
Steve: Damn, let's hope it's not a bait and switch. Get it, Frank? BAIT and switch. I said 'BAIT' because it has to do with fishing.
Frank: God damn it, Steve.
Steve: Sorry.