No, because couple of hands holding each other doesn't represent "Rainbow Flag" (combination of "Waving White Flag" and "Rainbow" glyphs) in any way, so that's

No, because couple of hands holding each other doesn't represent "Rainbow Flag" (combination of "Waving White Flag" and "Rainbow" glyphs) in any way, so that's a clear spec violation. However, if they decided to show a "rainbow painted on a white flag" instead of "rainbow-colored flag", it would be well within the Unicode spec. Of course it would have additional meaning and you can disagree with such decision on other grounds (I probably would), but it still wouldn't be "breaking Unicode", just like toy gun as "pistol" or toy car as "car" isn't. Hell, you can even make a font where every single emoji is depicted by toy cars doing silly faces and carrying things around.