Rainbow chat v2

local TextService = game:GetService("TextService")

function rainbowifyText(text)
    local rainbowColors = {
        Color3.fromRGB(255, 0, 0),
        Color3.fromRGB(255, 127, 0),
        Color3.fromRGB(255, 255, 0),
        Color3.fromRGB(0, 255, 0),
        Color3.fromRGB(0, 0, 255),
        Color3.fromRGB(75, 0, 130),
        Color3.fromRGB(148, 0, 211)
    }

    local rainbowText = ""
    local characters = string.split(text, "")

    for i, char in ipairs(characters) do
        local rainbowColor = rainbowColors[(i % #rainbowColors) + 1]
        rainbowText = rainbowText .. "<font color=\"rgb(" .. rainbowColor.R .. ", " .. rainbowColor.G .. ", " .. rainbowColor.B .. ")\">" .. char .. "</font>"
    end

    return rainbowText
end

game.Players.PlayerAdded:Connect(function(player)
    player.Chatted:Connect(function(message)
        local rainbowMessage = rainbowifyText(message)
        game:GetService("ReplicatedStorage").DefaultChatSystemChatEvents.SayMessageRequest:FireServer(rainbowMessage, "All")
    end)
end)

--enables bubble chat also

textcolour = Color3.new(0,0,0)

game:GetService("Chat").BubbleChatEnabled = true

coroutine.wrap(function()
    while wait() do
        for i = 0,255,10 do
            textcolour = Color3.new(255/255,i/255,0/255)
            wait()
        end
        for i = 255,0,-10 do
            textcolour = Color3.new(i/255,255/255,0/255)
            wait()
        end
        for i = 0,255,10 do
            textcolour = Color3.new(0/255,255/255,i/255)
            wait()
        end
        for i = 255,0,-10 do
            textcolour = Color3.new(0/255,i/255,255/255)
            wait()
        end
        for i = 0,255,10 do
            textcolour = Color3.new(i/255,0/255,255/255)
            wait()
        end
        for i = 255,0,-10 do
            textcolour = Color3.new(255/255,0/255,i/255)
            wait()
        end
    end
end)()

local settings = {

}

while wait() do
    pcall(function()
        game:GetService("Chat"):SetBubbleChatSettings({
            TextColor3 = textcolour,
            -- The amount of time, in seconds, to wait before a bubble fades out.
            BubbleDuration = 10,
            -- The amount of messages to be displayed, before old ones disappear
            -- immediately when a new message comes in.
            MaxBubbles = 20,

            -- Styling for the bubbles. These settings will change various visual aspects.
            BackgroundColor3 = Color3.fromRGB(0, 0, 0),
            TextSize = 16,
            Font = Enum.Font.Ubuntu, --Enum.Font.GothamSemibold
            Transparency = .1,
            CornerRadius = UDim.new(0, 30),
            TailVisible = true,
            Padding = 8, -- in pixels
            MaxWidth = 500, --in pixels

            -- Extra space between the head and the billboard (useful if you want to
            -- leave some space for other character billboard UIs)
            VerticalStudsOffset = 0,

            -- Space in pixels between two bubbles
            BubblesSpacing = 3,

            -- The distance (from the camera) that bubbles turn into a single bubble
            -- with ellipses (...) to indicate chatter.
            MinimizeDistance = 200,
            -- The max distance (from the camera) that bubbles are shown at
            MaxDistance = 400,
        })
    end)
end