Preheat oven to 350°F (175°C) and line baking sheets with parchment paper or silicone mats.

In a large bowl, cream together the softened butter, granulated sugar, and brown sugar until the mixture is light and fluffy, approximately 3 minutes.

Add the eggs one at a time, beating well after each addition, then stir in the vanilla extract.

In a separate medium bowl, whisk together the all-purpose flour, baking soda, and salt.

Gradually mix the dry ingredients into the wet ingredients on low speed until a cohesive dough forms.

Gently fold in the rainbow chips using a spatula until evenly distributed throughout the dough.

Scoop rounded tablespoons of dough and place them 2 inches apart on the prepared baking sheets.

Bake for 10 to 12 minutes, or until the edges are set and just beginning to turn a light golden brown.

Allow the cookies to cool on the baking sheet for at least 5 minutes to set before transferring them to a wire rack to cool completely.