The invention relates to the technical field of pigments, in particular to a colorful luminous pigment formula and a making technology. The technology comprises the steps that 50-55 parts of barium sulfate, 35-40 parts of magnesium sulfide, 1-4 parts of aluminium phosphate and 1-4 parts of potassium nitrate serve as the yellow pigment, 60-65 parts of calcium sulfide, 20-25 parts of magnesium sulfide, 5-10 parts of sodium sulfide and 1-4 parts of cobaltous nitrate serve as the purple pigment, 50-55 parts of barium sulfide, 35-40 parts of magnesium sulfide, 1-4 parts of copper nitrate and 1-4 parts of potassium phosphate serve as the red pigment, and 50-55 parts of calcium sulfide, 1-4 parts of nitric acid, 10-15 parts of barium sulfate, 5-10 parts of sodium sulfate and 5-10 parts of potassium nitrate serve as the green pigment; pigment blending, pigment mixing and pigment preparation are conducted. The prepared colorful pigment has the fluorescent effect, and the decorative effect of the colorful pigment is greatly improved.