Rainbow moonstone is transparent labradorite, a closely related feldspar mineral with sheen in a variety of iridescent colors. Although it's technically not moonstone, it's similar enough that the trade has accepted it as a gem in its own right.
Rainbow Moonstone connects us to Divine Inspiration, and channels it into our own intuition.
Working with Rainbow Moonstone encourages introspection and judgment, yielding easier decision making. It also enhances one's emotional vision, bringing greater creative abilities and freedom of expression. These properties are also enhanced by Rainbow Moonstone's ability to open one up to increased synchronicity that we often cannot see due to being wrapped up in our daily routines. Rainbow Moonstone can also offer increased patience and allowing, so those newly found synchronicities can flow into our lives unimpeded.
Rainbow Moonstone can raise our vibrational frequency to create a smoother transition into meditation. Used with the Sacral Chakra, Third Eye and Crown chakras, it calms the physical mind from the chatter that can affect our meditative state. This allows us to simply "BE" in that space with no distraction. Rainbow Moonstone allows the Crown Chakra to open and bring in loving white healing energies that will flow through us to the very core of our being. Rainbow Moonstone helps us to remember our true nature.
In general, Moonstone is associated with the Moon and thus is a wonderfully helpful stone for women. It helps us to connect to all the different cycles we experience in life. Moonstone helps balance the emotional body, especially any aggressive tendencies. Many people find moonstone to be very soothing and use it to help relieve stress.