Introduction to Rainbow Falls: Located to the east of Horseshoe Falls, it looks like a giant curtain. The water points in the air around the waterfall refract sunlight, producing a beautiful rainbow. Rainbow Falls is named after the seven-color rainbow that can often be seen from it. Water The rainbow formed by the fog can be seen from a distance of 20 kilometers. The rainbow often flashes in the splashing water and can rise to a height of 305 meters. On a bright moonlight night, the water vapor will form a strange moonbow.