Iridescent clouds, known as "fire rainbows" or "rainbow clouds," occur when sunlight diffracts off water droplets in the atmosphere. And the recipe for these heavenly sights is actually pretty simple.

Like common cloud-to-ground rainbows, iridescent clouds usually accompany thunderstorms. According to atmospheric phenomena expert Les Cowley, they often appear in the late afternoon, on very hot and humid days. This stems from the fact that most rainbow clouds form on top of cumulus clouds—the fluffy cotton-ball-shaped clouds we often see in children's drawings.

"What happens is that the cumulus cloud, boiling upwards, pushes the air layers above it higher and higher," Cowley explained. "As the air gets pushed upwards, it expands and cools. And sometimes moisture in that air suddenly condenses into tiny droplets to form a cap cloud."