Infinite Rainbow Heaven Version 0.8

MONSTERS
3|Enil|Rainbow Eel
1|Dead|Yurlungur the Elemental Lord
2|Acrd|Hellcrescent Strix
3|Dead|Iris, Avatar of Rainbows
3|Flfs|Ruby Chameleon
2|Tttt|Shooting Star Bird
2|Acrd|Icevale Witch
2|Qrev|Blood Chronarch

SPELLS
3|Dead|Abyss of the Primordial Lifeform
1|Qrev|Gateway of the Abyss
3|Acrd|Fusion Redemption
2|Dodm|Cold Fusion
2|Qrev|Mortify
1|Flfs|The Time and Space Chamber
2|Dodm|Lifeforce Shield
2|Dodm|Support Recharge

TRAPS
3|Anv1|Hostile Negotiation
2|Dsa|Effect Disorientation
2|Qrev|Forbidding Tresspass

EXTRA DECK
2|Dead|Solar Emperor Dragon
1|Dirb|Swift Shining Albatross
1|Dsa|Screeching Bunyip
1|Rope|Vigorpollen Dogwood
3|Res1|Rainbow Tail
1|Dodm|Gravity Guardian
1|Dead|Chernobog
1|Tttt|Carnivorasaur
2|Qrev|Eternal Steam Engine
1|Nasb|Ancient Shadow of Chaos
1|Rope|Deepsea Atlanthal Guide

SIDE
2X Splitting Cut
3X Sancrosanct Graveyard
2X Frozen Heart
2X Nox Exploiter
2X Sheets of Sound
2X Scrap Destruction
2X Butterfly of Life and Death

Explanation:
Ruby Chameleon is an instant 3-of, since it searches all the important card (Cold Fusion, Time and Space Chamber, Gateway, and such), while being a fodder for fusions.
Rainbow Eel is a decent beater, that gives access to many cards on your extra deck. 3 also, even if i can run with running 2, but a 1800 beater in a pinch is not that bad.
You won't summon Yurlungur often, but it win games when you do. If its dead, you can use it as a fusion fodder. 1 is enough. you can run 3 if AFA is out of the banlist, but since it won't, run 1. Run 0 if it ends up dead often(which is unlikely).
Iris, the Avatar of Rainbow is what really put the works here. Can be special summoned from your hand without a cost is already good, and being a fusion fodder AND creates instant Rainbow tail if properly set up is the icing of the cake. 3 goes to my deck.
Shooting Star Bird's first effect is a lucksack. Don't use it except if you really needs it. You'll use it for the second effect and its Attribute(Wind). Shooting Star's second effect also works wonderfully with Gateway, so you can easily summon the two materials fusion each turn. I'm going to use 3, but 2 should be fine.
Blood Chronarch is FIRE, so it's another target to Eternal Steam Engine to add. When its summoned, you can retrieve used spell/traps by paying a miniscule amount of life point. Seems broken, yeah. It's the best generic FIRE out there currently. 2 is enough, because of deck space.

Abyss of the Primordial Lifeform controls the field while replenishing your hand. It also stacks with itself. But being mandatory means that you'll kill your card sometimes. run 3, since It's Raining Spells is so goddamn slow.
Gateway of the Abyss is wonderful. Recycles banished materials, while being able to summon a fusion monster if you don't have any is wonderful. Running 1 is enough, enough cards recycle it so even if something destroys it, you'll be able to pitch it later. The others will be dead also.
Fusion Redemption is wonderful against SS based decks, since with an Eel/Iris/Yurlungur in hand, you can steal anything and turn it into a fusion. Note that it's not searchable by Ruby, and it doesn't trigger Abyss. I run 3 because i heard it's good to steal a Light monster and turn it into Solar Emperor Dragon or Ancient Shadow of Chaos.
Cold Fusion is the best set-up card the deck has. Combined with Eternal Steam Engine, you'll easily set up for a next turn Yurlungur and/or Iris plays. The ideal first turn play off this card will net you shitton of deckthins. Since there's only 2 monsters that will you summon via this card(The other is Albatross), 2 is enough. It's already searchable, recycleable, and loopable(somewhat).
An added perk to Cold Fusion is that it's a Quick-play, meaning that you can use it to foil an OTK by summoning Albatross/Dogwood, or shut spam decks by summoning Bunyip. It's  really amazing.
Time and Space Chamber is more like a final push card. A -1 In nature, combined with Abyss of the Primordial Lifeform it'll be either a +0 or +1(if you summoned a 3 material), and with a Gateway face-up you'll be summoning a fusion as a +2. 1 is actually enough, it's really searchable.

EXTRA DECK
Solar Emperor Dragon buys you time against single attribute decks(Nox, Icevales, among others) and Chaos decks. Being a Pseudo 3200 beater also helps.
Swift Shining Albatross replenishes both your S/Ts and your life points. Correct timing in summoning it will change games around.
Screeching Bunyip shuts mass Special summon decks. Be wary that it also affects your summons.
Vigorpollen Dogwood is mainly a filler for Fusion Redemption. being level 7 and having a huge ass also helps.
Ancient Shadow of Chaos wouldn't be summoned often. Protect it, and you'll win the game. Or at least searched most of your deck. It can also seach Exploiter and Butterfly and also Eels, which really helps.

Gravity Guardian is for that time you have Albatross and Steam lying around. Won't be summoned often.
Chernobog win games. A one-sided Sacrosanct Graveyard with a 2900 body is awesome.
Carnivorasaurus helps against several match-ups. really.
Deepsea Athlantal Guide is only there for the times you need to get rid of 2 level 4 monsters, which happens quite often.

Rainbow Tail is a great turn 1 play. an opening hand of any level 4 + Iris + another monster with a different attribute from the level 4 will lead to massive setups.

SIDE
Splitting cut is to kill any troublesome backrow cards
Sacrosanct Graveyard kills many decks. This deck won't be hurt by it past the set-up turns.
Frozen Heart is mainly for NS heavy decks. it won't hurt this deck lategame, and prevents any comeback.
Nox Exploiter is godly, enough said.
Sheets of Sound is for the times Splitting didn't suffice
Scrap Destruction is there to stop those Lifeforce-happy niggas from ruining my day.
Butterfly of Life and Death is for the times you face a nigh invulnerable boss. Still iffy on this though. Might change it to something else.

bump with update

Updated with QREV and the new format in mind. Taking suggestions for main and side deck.

why aren't you maining lifeforce shield

haven't tested it yet. still thinking about maining it over splitting cut, since this deck is not that prone to backrows. lifeforce's too good not to use, but yeah, aside from cut, dunno what to remove.

both do the same thing in preventing your plays from being broken apart by backrow. the slowness of cut and the higher versatility of shield as well as the fact that shield gives you the opportunity to go up in advantage over your opponent.

shield>cut

i also like scrap destruction as it's one of only a few cards that can ignore shield when attempting to remove a monster and simplify the game state

hmmm? elaborate. gonna use either mortify or scrap, but scrap's lp cost puts me off.

Updated for TTTT and maybe League

Updated again with the currently semi-final Version. Now with added description of cards, except for the staples.

Been testing Ceraunozoa + Salvation here, and it's been doing pretty godly. Ceraunozoa is never a dead card, and you'll draw out of it often, since it's recycleable. Salvation searches Iris out, while sets the grave with eels/shooting star/ceraunozoas. Gonna post the new decklist later.

How often would Yurlungur get summoned per turn? The entire deck runs well, all except for that card. It seems like a random hiccup in a massive steam of advantage.

With Salvation, Yurlungur can be summoned on turn 1 with ease, after the usual opening play using rainbow tail and eternal steam engine. Even if you don't(since honestly, turn 1 yurlungur is kinda stupid), you can reliably summon it with the use of Cold fusion for grave control.

It'll be dead, yeah. But it still can become a good fusion fodder. But maybe I'll try removing it for something else, and see how smooth it'll become.

Note: ideal opening hand is a level 4, iris, and another monster other than the level 4. Or salvation + a non water monster.

Also, been testing 2 dimensional mantis + sea born dragon and diamond armor colossus. Cold fusion banish 2 mantis to summon sea born then draw 2 and send diamond armor to grave to snipe 1 card in your opponent's hand is a funny once per game play, but i think the combo are too situational and not really worth it.

Now, due to Salvation's fate as a soon-to-be banned card, I'll remove Yurlungur and all the gimmicky cards for the third Cold Fusion and Flash Serpent. Ceranauzoa will be used as a 3-of, and I'll add some more AByss of the primordial Lifeform if the deckspace/meta permit it over more traps. Also, going to remove mortify for something else(preferably a trap). Will update the deck ASAP with V1.1.

AHAHAHAHA. Apparently the deck'll got hit HARD in the next banlist. So, I think I'll turn this back into V0.1 and find more card interactions to abuse.