In this video tutorial I show how to create rainbow text using Sony Vegas Movie Studio HD Platinum 10.
I present 'one' way to create Rainbow Text. If you have Sony Vegas Movie Studio HD Platinum 11 Production Suite version, then you have an extra tool at your disposal which works far better than the method I teach here - you can use the New Blue Titler.
To create rainbow text you will need to use a program like Microsoft Paint in conjuction with Vegas.
If you have Adobe Photoshop you can use that exclusively to create your text and then simply import it into Vegas.