Create a stunning and vibrant artwork capturing the essence of a rainbow-colored waterfall, inspired by the majestic Niagara Falls. The cascading waters shimmer with a myriad of colors, forming a spectacular rainbow that arches gracefully over the plunging cascade. The vibrant hues of red, orange, yellow, green, blue, indigo, and violet dance in the mist, creating a mesmerizing and ethereal display of light and water. The waterfall itself is a powerful force, roaring as it tumbles over the rugged cliffs, sending up a fine spray that catches the sunlight and refracts it into a dazzling array of colors. The surrounding landscape is lush and verdant, with trees and foliage framing the magnificent natural wonder, enhancing the magical and awe-inspiring scene.