- The Rainbow Element Flag was released when the game was released, on September 14, 2011.
- The Rainbow Element Flag is the first epic element flag to include the word "Element" in its name.
- On December 21, 2012, the Rainbow Element Flag was decorated with holiday decorations for a limited time.
- On February 1, 2013, the holiday decorations on the Rainbow Element Flag were removed.
- Initially, the Rainbow Element Flag was available at level 16, but the level availability was changed on October 9, 2013, to level 11.