Oh yes I remember that song very well. I bought the EP at that time with this number on. Unfortunately don't have it anymore.
On the single, the flip side was
"We will make love" which was more popular in the UK whilst "Rainbow" was more popular in the US. Can't find the lyrics.
It goes something like this
When the sun meets the sky and the moon up above Well go on a journey, youoo and I To a far distant land, where no one knows ????????????????? And we will make love
Oh yes we will make love
Cant really remember anymore
RAINBOW Russ Hamilton
Rainbow, rainbow, rainbow
CHORUS:
I'm saving my money to buy you a rainbow A rainbow, to put on your finger And after I've gone and bought you the rainbow I'll go out and I'll buy you the moon
When we go walking side by side in the moonlight We count the stars as we go strolling by Maybe someday we'll own those beautiful diamonds That glisten like the teardrops from your eyes
You know how I feel on a moment like this When hand in hand when we reminisce Your eyes seem to glow when you whisper low I really love you
CHORUS
And after I've gone and bought you the rainbow I'll go out and I'll buy you the moon I'll go out and I'll buy you the moon Rainbow, rainbow, rainbow