If you say that something is the end of the rainbow, you mean that it is something that you would very much like to get or achieve it, although in reality this will be very difficult. For all these teams, Wembley was the elusive prize, the end of the rainbow. Note: You can also say that something is at the end of the rainbow. There's a great big prize at the end of the rainbow and we both want it. Compare with a pot of gold. Note: There is an old legend that a pot of gold is buried at the point where the end of the rainbow meets the ground.