Rainbow Stone is a Tool in Elden Ring.
Ruin Fragment that has undergone some simple processing.
Craftable item.
Stones such as these shine with the colors of the rainbow, making them useful markers when placed on the ground.
Can also be dropped to gauge the distance of a fall. The higher the pitch of the sound, the higher the likelihood of the fall being fatal.
Once used to entertain children on the fringes of the Lands Between.
Elden Ring in-game description
Rainbow Stone Location

Additional Insights Into Rainbow Stone
- Effect: Shines with colored light when placed, serving as a guide
- Rarity: Common
- Sell Value: 10 Runes
- Rainbow Stone can be traded.
- On-Hand Capacity: 99
- Storage Capacity: 600