Here's a very annoying video of "Hawaiian Rainbow": https://www.youtube.com/watch?v=cABRF6UtVeM

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Here's a rather nice "seated hula" for children by Holly Nagel:
https://www.youtube.com/watch?v=KMeXqr7zK4U

Nagel's lyrics:

Hawaiian rainbows, white clouds roll by;
You share your colors across the sky.
Hawaiian rainbows, it seems to me,
You reach the mountain down to the sea.

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Alternate:
http://www.broadjam.com/artists/songs.php?artistID=24172 (Tim Coons)

Hawaiian rainbows white clouds roll by
I see your colors against the sky
Hawaiian rainbows it seems to me
Come from the mountains down to the sea

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Also in:
Silver Burdett Music, Centennial Edition
Grade: 3

HAWAIIAN RAINBOWS

Hawaiian rainbows, white clouds roll by
You show your colors against the sky.
Hawaiian rainbows, it seems to me,
Reach from the mountain down to the sea.