A pair of rare, rainbow-colored blanket octopuses have been caught on camera during a night dive off the coast of Romblon, Philippines.

In the incredible high-definition clip, captured on April 5, one of the octopuses puts on a vibrant light show for cameraman, Joseph Elayani, as it glides through the water shifting through the different colours of the rainbow.

The rapid colour change is thought to be a reaction to the different light levels from the camera, or as a defence mechanism against would-be predators.