From Austin Improv Wiki
Abstract Rainbow was an improv troupe.
 Press BlurbTheir press blurb, taken from a 2010 application to perform at The Hideout Theatre:
Abstract Rainbow is a puppet making company based in Austin Texas that also performs live comedy variety shows featuring original Abstract Rainbow puppets. The live show is a variety act involving sketch, improv, singing, dancing and puppetry.
 "What's Your Deal?"Their answer to the "What's Your Deal?" question on a 2010 application to perform at The Hideout Theatre:
We're a comedy variety act that performs improv and sketch using song, dance and puppetry.
We have an opening song and dance number, then we alternate between improvised scenes, scripted sketches with puppets, improvised songs and dances and scripted songs and dances.