See Gandalf's description of his capture by Saruman in The Council of Elrond. When Gandalf approaches the steps of the Orthanc he notices that Saruman is wearing a ring. Then later Saruman says he is no longer Saruman the White, but Saruman the Wise, Saruman Ring-maker, Saruman of Many Colours. The ring was not described as rainbow colored.
[ June 23, 2002: Message edited by: Thingol ]
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Yet the lies that Melkor, the mighty and accursed, Morgoth Bauglir, the Power of Terror and of Hate, sowed in the hearts of Elves and Men are a seed that does not die and cannot be destroyed; and ever and anon it sprouts anew, and will bear dark fruit even unto the latest days.
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