The Big Rainbow has found its home in Daylesford, after Hepburn Shire Council settled on Victoria Park as the location for the new landmark.
Daylesford was chosen from a shortlist of four locations last October, and the shire has since conducted community consultation to determine exactly where it should be erected.
The Big Rainbow is expected to be installed in time for the ChillOut Festival on the long weekend in March, and will remain in place for three years.
Mayor Cr Brian Hood said the Big Rainbow will be a colourful addition to the shire.
It was originally unveiled in Circular Quay in Sydney last year as a temporary installation, and is expected to be a major visitor attraction in its new home.
