The title track, "The Rainbow Kingdom," is about a land with the best colors, until they get blown away by the wind. Teaching us, early on, not to always expect a happy ending. (Although they get a reprise, later, which suggests that they figure out how to get the colors back.)
"I Found It In A Book" is a song to make any librarian take up her flag and sing. (At least, if there was an official Library flag.)
And "Fairy Godfather" turns the three wishes concept on its head for a fun song.
The whole album is clever and creative, and I recommend it if you've got little ones who you need to introduce to the storytelling world.
You can listen to some decent samples at CDBaby. It's available for purchase or download at amazon.com: