From left to right:
Buddy Blue (Champ), Canary Yellow (Spark), Indigo (Hammy), Tickled Pink, Rainbow Brite with her white sprite Twink, Shy Violet (IQ), Patty O'Green (Lucky), Lala Orange (OJ) and Red Butler (Romeo)
Rainbow Brite was a character franchise introduced by Hallmark Cards in 1983; with the animated television series starting the following year.
Rainbow Brite made her animated debut in a syndicated prime-time special, "Peril in the Pits," first aired on June 27, 1984. Two more two-part specials were subsequently made, "The Mighty Monstromurk Menace" and "The Beginning of Rainbowland."
In April 1986, Rainbow Brite became a regular series, as part of DIC's weekly syndicated Kideo TV block; eight new episodes were made for this run. Rainbow Brite remained part of the Kideo TV lineup until May 1987.
Rainbow Brite with her talking horse Starlite and white sprite Twink
SOURCE: http://en.wikipedia.org/wiki/Rainbow_Brite
My favorite has always been Rainbow Brite.