Music by Philip Balsam
Lyrics by Dennis Lee

"Good-bye, Good-bye (Just a Rainbow in the Sky)" is sung by Gobo and Wembley as the Fraggles prepare to leave Fraggle Rock for exotic destinations like Manny's Land of Carpets and Bubba's Burger Barn in the Fraggle Rock episode "Manny's Land of Carpets."

It was also featured on The Animal Show in Episode 111: Gorilla & Rhino, this time used in the context of endangered animals, and was shown over a montage of endangered animal clips.