We're glad Holly Madison seems to like rainbows a whole lot, because she'll be wearing one on her finger for a while!

Beverly Hills jewelry designers Layna and Alan Friedman crafted a colorful, 22-carat engagement ring for the Girls Next Door star and her fiance Pasquale Rotella, which the designers say is worth over $2 million.

Inspired by both flowers and Holly and Pasquale's engagement site, the Electric Daisy Carnival, the giant jewelry features an 18-carat yellow diamond in the middle surrounded by 3.5 carats of bright pink, yellow and blue diamond flowers. It looks like a Disney Princess's engagement ring!

We think the design is very Holly, although it takes some commitment to wear something that gigantic and colorful every day.

See the pics below!

Credit: Layna & Alan Friedman Beverly Hills

Credit: Layna & Alan Friedman Beverly Hills

What do you think of Holly's new diamonds? Super-pretty, or too much?