The most common colors used for unicorns are white for the body, and pink or purple for the mane and tail. For the horn, gold or silver are popular choices. For the rainbow, use all the primary and secondary colors – red, orange, yellow, green, blue, indigo, and violet.

The Unicorn Rainbow Color Scheme palette has 6 colors which are Electric Red (#F20000), Safety Orange (#FF6700), Lemon (#FFF800), Bright Green (#5AFF00), Azure (#0092FF) and Electric Indigo (#7700FF).

The mane and tail offer a creative opportunity and could be colored in rainbow order mirroring the rainbow the unicorn is jumping over. The rainbow itself should typically be colored in the order red, orange, yellow, green, blue, indigo and violet starting from the top.

The rainbow-colored mane and tail are the only features that make the rainbow unicorn visibly different from the classic unicorn. The coat of the rainbow unicorn is white, the same color as the traditional coat color of the classic European unicorn.