Yup, 1.7 is arriving and you can have RAINBOW SHEEP. Just name a sheep jeb_ and BAM! Rainbow. This is another easter egg. No, you will not get rainbow wool. If you shear the sheep you get the color of the wool the sheep was pre-named. Enjoy Empire.
its only in 1.7.3 as of right now, not in 1.7.2 this has been on imgur since this morning.. how has no one said anything before now?