I think all the paranoia about this being socialist evil is ridiculous. But I do agree with those who say it has a horrible moral. This book tried to be about sharing, I get that. It mostly ended up being about how humility means giving away or suppressing what makes a person unique. This book could have ended with the Rainbow Fish apologizing to the other fish for his arrogance, and the other fish apologizing for shunning him. It could have ended with the Rainbow Fish pointing out that all the fish are special, no matter if their scales are shiny or not. It could even have ended with the Rainbow Fish deciding he was too good for anyone else and swimming alone forever. Instead the Rainbow Fish ripped off parts of his body so that the other fish would like him. There's no way I'll read this book to my students.
This book would have gotten one star, but I gave it an extra 1/2 star because kids love the sparkly pages.