We're Going dummy getting blazed on a rainbow
Blaze the rainbow, so
This is an adulterated version of Skittle’s motto, Taste the Rainbow, and Skittles are a type of sugary candy, like gummy bears.
Watsky takes a song about candy and childish things and makes it about getting hickeys and smoking weed (something he regrettably admits he does). Watsky has certainly matured, but he still has a touch of his childish side in the things he does.
To help improve the meaning of these lyrics, visit “Gummy Bear Hundrednaire” by Watsky Lyrics and leave a comment on the lyrics box