In 2020, Melbourne City Council installed new signage for Rainbow alley in recognition of its commitment to diversity and inclusion. Apart from the rainbow-coloured sign, there are no other references to the LGBT+ community.

The alley was named prior to 1856 after the nearby Rainbow Hotel, which was situated at the corner of Swanston and Little Collins Streets. If you ask me, this hotel is crying out for redevelopment as a queer bar.