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Chop all vegetables to bite size.
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In a large bowl, combine peppers, carrots, cabbage, onions and cilantro. Toss to combine.
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In a small bowl, mix together vinegar, lime juice, honey, cumin, salt, and pepper. Slowly whisk in the olive oil.
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Pour this dressing over the rainbow salad. Season with salt and pepper to taste. Toss gently until coated.