I don't usually go this route, but I think you should probably drop everything and go to a mental doctor. If you've seen a red rainbow at all, either your eyes are full of rage or they're bleeding. Or you've really misunderstood what the LGBT community is trying to accomplish.
Do you have a lot of strawberries on your face?
You know what, never mind. I probably shouldn't try to diagnose from here. Something's wrong. You're in Hell, I'm guessing. Or maybe just in lava. Leave where you are. It's not safe.
Short Answer: If this is a real phenomenon (...Googled...) holy shit it's a real thing. A monochrome rainbow? Why isn't this the symbol for all the gay-bashing religious idiots? Oh, no. Did I just give them a thing? Fuck.
Note: You think maybe it's a dismembered leprechaun at the end of a red rainbow? A pot of blood and chunks?