PURPOSE: To provide rainbow colors and enhance production efficiency, by a method wherein a vapor-deposited metallic layer is provided on a base film, force cracks are generated in the layer by tensioning it momentarily under heating conditions, and the cracked lyaer is used as a diffraction grating.

CONSTITUTION: After providing an easily releasable layer 2 on a base 1, a pattern layer 3 in a desired number of colors is provided thereon, then a protective layer 4 is provided thereon if required, and the vapor-deposited metallic layer 5 is heatedto a temperatures nnot lower than a fixed temperature under a fixed tension, whereby cracks 6 orthogonal to the vapor direction of the tension and parallel to the printing surface are generated in the layer 5 due to differences in expansion property between the ink compositions. Then, an adhesive anchor layer 7 is provided if required, and an adhesive layer 8 is laminated thereon to complete the transfer foil. The releasable layer 2 is formed from an acrilyc resin, a chlorinated rubber resin or the like.