Butterflies and Rainbows consists of a pink jelly base and a TON of different glitters. Waaay too many too list and all of them awesome.
It's amazing. I'm usually not a fan of pinks OR jellies, but man, I had to have this one as soon as I saw it, and Lorrie from J&L Creations was sweet enough to provide a bottle for review.
Butterflies and Rainbows applies like a dream - it IS super sheer though, so you'll definitely need several coats. The glitter is bountiful in this polish, so no need to fish for it. You'll have good coverage with just regular application. No need to dab it on either, it comes off the brush beautifully. I suggest waiting a couple of minutes between coats to give the glitter some time to settle so you don't drag it off your nail with the next coat.
The polish looks great by itself, and of course layered as well. I prefer it by itself though, so I can ogle all the squishy, jelly goodness. SO pretty. No seriously, I can't get over how pretty it is. You need this polish NOW.
For my pics, I used four coats of Butterflies and Rainbows over a coat of Revlon Quick Dry Base Coat, no topcoat: