You need 10 rainbow fragments per equipment. On dmm your main source is just drops from doing aqua shadows.

Quote Originally Posted by Unregistered View Post
really though? it adds % of def/atk/quadsexual_dunebuggy to whole squad by just being equipped if memory serves, which i'm willing to admit it might not, so feel free to correct me
Evolved equipment gives 2% att/def to party members of the same attribute. Popularity contest winners have 2nd equipment that gives 5% att/def and guts to themselves.