The spring formation is the fourth-largest in Florida, and produces over 490 million gallons of water daily.
Rainbow Springs was known as Wekiwa Creek by the Seminole Indians.
It was known as Blue Spring until the 1930s, when the site was developed as a tourist attraction and the promoter sought a more distinctive name (there are several other springs in Florida named "Wekiwa" and "Blue").
The entire Rainbow River was designated as a Registered Natural Landmark in 1972, an Aquatic Preserve in 1986, and an "Outstanding Florida Waterway" in 1987.
Much of the work to open Rainbow Springs State Park was done by volunteers from the community.