Make rainbow items today! It is just like crafting a diamond item, but instead of diamonds you use diamond blocks! There is a full set of Rainbow Armor, a Rainbow Pickaxe, and a Rainbow Axe that you can craft!
To craft these items, use the crafting for making tools/armor that you already can make with normal diamond armor and tools. For example, for a Rainbow Sword you would need one stick and 2 diamond blocks to craft it.