There are many variations of Iggy the Iguana and Rainbow the Chameleon and the 2 beanies often cause confusion. It is erroneously thought that they were mistagged, Iggy as Rainbow and vice versa, but in fact they were tagged correctly. Iggy is Iggy and Rainbow is Rainbow.

It was their fabric that was mixed up. Iggy had Rainbow’s fabric at first. Rainbow had Iggy’s fabric at first, a blue/green, but logic tells you that Rainbow should be rainbow colored.

Above we show Iggy with the correct fabric. It was the last version produced. You can view many incorrect versions here:

Iggy with incorrect fabric page

One example of incorrect fabric:

Please read more details about the variations of Iggy and Rainbow here.
Iggy vs Rainbow Beanie Babies