Rainbow moonstone is a very calming stone. It helps to bring stronger intuition and perception to the wearer, and helps you to balance yourself and your emotions. The rainbow comes from a rainbow effect when the stone is refracted, with two types of feldspar growing together.
Given its lunar connection, moonstone is often used in rituals involving Moon Goddesses such as Diana. It is also thought to be of great assistance during pregnancy and childbirth.
Rainbow moonstone is slightly translucent to almost clear, and has a sheen of rainbow colors. The stone will pick up the colors you wear
Rainbow moonstone is "spectrolite" which is a type of feldspar, like regular moonstone but also quite distinct. Moonstone only shows white or blue, whereas spectrolite can show almost any color of the rainbow in its sheen.