It’s Pappardelle Party!
You could say that it’s a horizontal stress stencil font with contextually rotating colors seeded by a variable axis. Or you could say that it’s just really tacky.
Either way, this font combines color font technology, variable font technology, and OpenType contextual alternates to cycle through a sequence of four colors that changes position with each letter that is typed. The variable SPIN axis governs the starting point of this sequence, allowing you to animate through the different color arrangements.
Pappardelle Party’s COLR/CPAL version is supported by most modern browsers, while its SVG version is good for apps like Illustrator and Photoshop. Until its color palettes are better supported, you can use this online customizer to generate a font with the exact colors that you want.
Pappardelle Party is November’s installment of the Font of the Month Club, so feel free to join the club if you want to give it a spin!