Jebinite - A new Diamond Variant

I believe there should be a rare rainbow variant diamonds called Jebinite. Named after Jeb, and in a similar fashion to sheeps named Jeb, this diamond alternates through all the colours of the rainbow.

This effect is translated through to diamond tools, armour, and trims, which will now alternate colours continuously.
Statistically Jebinite tools and armour are exactly identical to regular diamond items, being purely a cosmetic effect.

As for where to find it, I think between 1-5% of diamond ore generation is randomly replaced with jebenite ore is fair.