The iconic rainbow which adorned the entrance to Rainbow's End Theme Park for more than 30 years has found its forever home in Waihi.

After it was removed to make way for a new entrance the rainbow went on a road trip around the country to find a new home.

Resene took the 1.3-tonne rainbow on the search, looking for an opportunity to make the rainbow an "enduring and iconic symbol for a town in New Zealand."

It was decided Waihi was the perfect spot for the rainbow.

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In a press statement, Resene said it wanted the rainbow to bring joy to a town, particularly for children.

Resene approached the organisers of Goldfest in Waihi with the idea of involving the rainbow in the Goldfest celebrations with an actual pot of gold at the end of the rainbow.

Resene managing director Nick Nightingale said the company had supported towns in New Zealand with fundraisers and support of local schools and community projects.

"And what better way to celebrate colour and Waihi, than with a rainbow of colour with a pot of gold at the end?"

Goldfest would run through October in and around Waihi with events and activities for all ages.

The rainbow was on its way to Waihi today, no doubt attracting attention along the route down.

GO Waihi Coordinator Brian Gentil said he was hopeful the rainbow would be in place at Victoria Park on SH2 by mid October.

Anyone wanting to join in the Goldfest celebrations in Waihi should contact Go Waihi or see their website www.waihi.org.nz