Opalescent (adjective)

1. Having a play of rainbow-like colors, especially an iridescent quality.
2. Having a milky or pearly luster.

Origin:

Mid 19th century, from french opalescent, from opale "opal".

Examples:

1. The opalescent necklace shimmered in the light.
2. The opalescent sea shell had a beautiful, iridescent quality.
3. The opalescent soap bubbles drifted through the air.
4. The opalescent glass vase was filled with flowers.
5. The opalescent butterfly wings captured the sunlight.