According to today's Variety,Tony Tasset's enormous, colorful "Rainbow" is currently being constructed offsite, and its unveiling is planned for mid-October.

In May of 2011, the Culver City Cultural Affairs Commission  approved the art work concept for Tony Tasset's Rainbow, which will be installed near the studio's Madison Avenue gate, The rainbow will be about nine stories high and span 188 feet. 

According to the artist's description of his sculpture, it is intended to speak to "the sense of optimism and well-being associated with rainbows in general and more specifically with the rainbow in popular culture as imagined in the iconic Wizard of Oz film, created in the very movie studio that will become home to the Rainbow sculpture.”

Read more about the artwork that will soon tower over Culver City HERE.

You can also see Tony Tasset at work in THIS video.