No. It’s not an episode of My Little Pony. It’s an actual thing. A NASA thing:
In the future, mirror-based space telescopes might be replaced by “glitter clouds” of particles sculpted by laser light, according to NASA’s Jet Propulsion Laboratory (JPL). This mind-boggling proposal is called Orbiting Rainbows…
Becky Ferreira, Rainbow Cloud of Space Glitter and Lasers Could Image Alien Worlds [motherboard.vice.com]