In reference to the arched shape of a rainbow.
rainbowshot (pluralrainbow shots)
- (basketball) A higharcingshot into thebasket.
2002, Scott Johnson, Julie Kistler,Once there were giants: how tiny Hebron won the Illinois state basketball championship and the hearts of fans forever, page158:Even after Spooner dropped in one of his patentedrainbow shots from the left side and Schulz scored on another tip-in, Quincy still held a two-point lead with half a minute to go in the third quarter.