Watch Rainbow Valley Documentary (2014) : Full Movie Online Free Rainbow Valley is a documentary about Prince Edward Island’s favourite amusement park. The Davison family opened Rainbow Valley in 1969 with the goal of providing Island families with an oasis of affordable family fun. Thirty-six years later it closed with very little warning, leaving a hole in PEI’s landscape and in its heart. This film explores what the amusement park meant to Islanders and what it means to them almost a decade after its closure. The documentary combines film and VHS home videos with 12 interviews with people that were involved with Rainbow Valley or those whose lives have been greatly affected by the amusement park.