taken from google, www.gymhol.cz/.../03_disperze/03_disperze.htm

A moonbow (also known as a lunar rainbow, lunar bow or white rainbow) is a rainbow produced by the moon rather than the sun. Moonbows are relatively faint, due to the smaller amount of light from the Moon. They are always in the opposite part of the sky from the moon.

Moonbows are most easily viewed when the moon is near to full (when it is brightest). For other than those produced by waterfalls, the moon must be low in the sky (less than 42 degrees and preferably lower) and the sky must be dark. And of course there must be rain falling opposite the moon. This combination of requirements makes moonbows much more rare than rainbows produced by the sun.

Wow! Interesting! There's really such thing as rainbow in e nite! =) How i wish i can see it!