The song "Rainbow Water" by Peeple Watchin' reflects on the changing landscape of a neighborhood, specifically the transformation of old punk houses into expensive real estate. The lyrics describe the urban decay and gentrification that takes place, as well as the feelings of displacement and frustration that come with it. The song depicts a sense of nostalgia for the old haunts and the punk lifestyle that once thrived in the neighborhood. The band laments the loss of these spaces and the community that once inhabited them, while also recognizing the complexities of the situation. They acknowledge their part in the gentrification process and the conflicting emotions that come with it. Overall, "Rainbow Water" captures the bittersweet reality of urban development and the impact it has on the local culture and community. The song serves as a reflection on the changing times and the struggle to reconcile the past with the present in the face of urban development and gentrification.
