Rainbow Rod

The Rainbow Rod is a magic weapon with Flamelash-kind of attack. The missile is white and emits light that rotates through the color spectrum, creating a rainbow effect underground or at night. With the proper equipment, the Rainbow Rod becomes one of the most damaging weapons in the game, and is useful in boss fights against enemies with high defense. It is relatively slow firing compared to other top-end weapons. You can also use it as a light if you are exploring caves, by clicking where you want it to light up.

History

 * Early mentions:
 * Fleshing things out 18th October 2011
 * Terraria 1.1 Trailer 25th November 2011