Make a rectangle using the Rectangle tool. Use Alt+drag and Shift key one time down to the right position. Click Control+D three times. To change the colour, select the rectangles one by one and by clicking on a swatch.
Choose all the rectangles and group them.
Navigate to Effect>Warp>Arc.
Change the Horizontal percentage to 80%.
Click on Expand Appearance.
Now we have a rainbow.
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