Animated Rainbow Button
1.) Make a button or open up a button into animation shop, for this tutorial the simpler the button the more effect the animation has on it. Im going to use this button :-

2.) Then to animate go to Effects > Insert Image Effect and then choose from the drop down menu, 'Rotate Colours', then 'Click Ok.'
3.) Go to File > Save As and name your button, it should then turn out something like this :-






