Elmo is drawing when he looks up in the sky and sees a rainbow! Wow! Elmo rushes to show everybody, but when Rosita arrives, the rainbow has disappeared. Elmo asks Leela if there is something he can do to bring the rainbow back. Leela offers to draw a picture of a rainbow. Leela can't remember all the colors of the rainbow, but uses the acronym Roy G. Biv to help her remember the colors. Rosita likes the picture, but she wants to see a real rainbow. Elmo gets an idea! What about a rainbow of monsters? Elmo gathers monsters of all different colors; red, orange, yellow, green, blue, indigo, and violet. After many attempts, the monsters finally line up in appropriate order. Rosita enjoys seeing a rainbow of different colored monsters, but still wishes she could see a real rainbow. Abby hears Rosita and recites a magic rhyme to grant Rosita's wish. Poof! Oh no! Instead of making a rainbow appear, raincoats appear on Elmo and Rosita! Abby tries again and again. Her magic rhyme still doesn't work. Abby makes a rainstorm, instead of a rainbow. Everyone rushes inside, where Gordon makes a rainbow appear using a flashlight, glass of water, and white paper. Afterward, as Elmo and Rosita are playing outside, Rosita looks up and sees something special, a rainbow! Elmo and Rosita sing all about the beautiful rainbow in the sky.