How to do Neymar rainbow flick? With the soccer ball between your legs, roll the ball up one of your legs and then flicks the ball with the heel area of the other foot up and over your head.
Neymar pulls off a rainbow flick but gets fouled in the process. Watch how Neymar flicks the ball up and over the defenders' head but gets pushed down when the defender realizes he's beaten. Tough to face off against Neymar when he's got the soccer ball at his feet, you're bound to get embarrased when you close him down, especially if he decides to try a rainbow flick.
Neymar has gotten in some trouble for pulling a rainbow flick off at the end of games, even doing it while playing for Barcelona. It's maybe not a move you want to do when your team is winning and there are only a few minutes left. However, if you have skill like this, as Neymar does, why not use it in a game.