Free transformed duplicate of rainbow to create the far part of the rainbow. A few color gradients for the background. Rendered clouds, free transformed and set to overlay.
step 20 of 22
Added shadow to bumper car. New layer of clouds blurred. A darker gradient added to sky.
step 21 of 22
Copy the rainbow. Mask it over the logo and set to overlay (2 layers stacked). Duplicate and gaussian blur. Another duplicate desaturated and brightened to get a white version of the glow, also set to overlay.
step 22 of 22
Brush white dots for stars. Smudged to create shine-effect. Took poles from source to support the logo.