Rainbow Islands Extra is an updated version of the 1988 arcade game, Rainbow Islands: The Story of Bubble Bobble 2. It was released on the Sega Mega Drive in 1990 exclusively in Japan.

Bubby's friends have been captured and turned into Bubble Dragons by Super Skull Monsta [sic], and Bubby needs to save them by destroying the Super Skull Monsta's minions with rainbows and collecting Little Diamonds to get Magical Mirrors needed to break the spell.

Original and "Extra" versions are selectable in option menu. The rules are otherwise the same - create rainbows to defeat enemies and reach the top of the screen. The order of characters and music are interchanged in two versions.