Eucalyptus deglupta, commonly known as the rainbow eucalyptus or rainbow gum, is a tall tree found in tropical and subtropical regions. The unique multi coloured bark is the most unique feature of the tree. The tree sheds the outer layer of its bark to expose new green bark. As this bark ages, it changes colours from green to blue to purple to orange and finally to brown before being shed. The tree is widely grown in tree plantations, especially in the Phillipines, mainly for pulpwood used in making paper.
Eucalyptus deglupta is cultivated as an ornamental tree, for planting in tropical and subtropical climate gardens and parks.
The showy multi-coloured streaks that cover the trunk are a distinctive landscape design element.