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A type of party where several girls wear a different color of lipstick then each proceeds to give one or more guys a blow job. The multiple of colors left on each guy's penis resembles a rainbow.
Phil had 3 colors of the rainbow on his penis before ejaculating into Suzie's mouth at the rainbow party. Pamela and Vicky waited for him to get hard again before completing the rainbow.
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Supposedly a party where each girl wheres different shades of lipstick and go to a party and suck guys dicks so the dicks are like rainbows when its over. But really, the stupid bitch Oprah made up the word cause she is a dumbass and hates children..
Oprah: Make sure ur children dont go to rainbow parties.
Parent: whats a rainbow party?
Oprah: something i made up to get your children in trouble for absolutly no reason..
Parent: That sounds pretty mean but since your like a god and all i have to listen to you.
Oprah: i want to eat your babies.
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The thing that causes an outbreak of herpes among the freshman class at Kapaun Mt. Carmel in Wichita.
Those girls, after the rainbow party was finished, noticed small sores on their lips.
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A word that was made up by Oprah in order to lure parents to be overly cautious for absolutely no reason.
Oprah: "Your daughter is a slut, she goes to rainbow parties, so lock her in a stone cell for the rest of her life, because I'm Oprah and I know everything!"
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Supposedly a party where girls wearing different colored lipstick all have oral sex with one or more guys, leaving the guys with a "rainbow" colored penis. Some people appear to believe that it's just an urban legend.
"I felt left out because I only had six different colors of lipstick on my dick when I left the party."
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In the US, it is apparently a euphemism (or media-invented myth)for rather lewd naughtiness (see all other definitions). In the UK, it means jelly, ice-cream and dressing-up as Zippy, Bungle, Geoffrey, George, Rod, Jane or Freddy and singing "The Wheels on the Bus". The latter seems condusive to a much more satisfying experience.
Yank: Dude, I'm so emotionally crippled and shallow, I went to this badass Rainbow Party last night. Now I feel even more empty and my dick's kinda itchy.
Limey: I say, old bean, I had a Rainbow Party last week! We all had a beezer time, despite Bungle having eaten too much jelly and ice-cream.
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When a young group of teenagers goes to a party and each girl wears a different colored lipstick. Then all the boys line up and each girl proceeds to "go down" on the boys. The girl with her lipstick farthest down on the most boys is deemed "winner"
"'Mom! My throat is too sore from last night's rainbow party!' 'It's ok, sweety, you can stay home from school today'"
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