|Game board is in||Mario Party 5|
|Star Space type||Normal|
|Happening Space Effect||Varied|
|Availability||Available at the start|
Rainbow Dream is one of the 7 playable board maps in Mario Party 5. It was created from dreams of rainbows. Since it was formed from these types of dreams, this board also features many clouds and a pink, starry sky as a backdrop. There are 4 big clouds, each featuring a different weather condition. The 4 weather conditions are rainy, snowy, sunny, and cloudy. The main way of navigation is by way of "Rainbow Spaces" Getting to one will allow the player to ride a rainbow off to the next area for a 5-coin fee. You can use a gondola if you land on one of the four Happening Spaces next to it. There was one other Happening Space on each area aside from the ones near the gondola. The one on the cloud area gives the player a chance to earn capsules by spinning a battery wheel by tapping A repeatedly within the time limit. The Happening Space in the rainy area would carry the player, along with anyone on the surrounding 2 spaces back to the Start space. The Happening Space on the sunny area would cause 3 rainbows to appear. The player would choose one to slide down, collecting coins along the way. The Happening Space on the snowy area would give players a chance to win coins as well. Here, the player would need to ground pound a see-saw that a snowman was on. The bigger the ground pound, the more coins the player would be able to reach.
 Story Mode
In Story Mode, Bowser and Koopa Kid came here to replace Rainbow Dream with their own evil dreams. The player(playing as a playable character from Mario Party 4) came to stop them. Bowser had Koopa Kid split in 3(Red, Blue, and Green) to try and overwhelm the player. Upon defeating the 3 Koopa Kids, Bowser and the original Koopa Kid would flee to try and ruin another dream. The battle took place on a much smaller version of Rainbow Dream, using just the sunny area of the board.