I’m sure there is a cool meteorological word for a blob of rainbow all by its lonesome up in the sky, with no end at which a pot of gold could be hiding, but I don’t know what it is.
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Looks like you’ve got a Sundog!
http://en.wikipedia.org/wiki/Sun_dog
Hard to tell without the sun, horizon, or its twin in the frame, but I don’t think it’s a sundog. It looks too high above the horizon, and lacks the characteristic halo arc through it. Might be a fragment of a circumhorizontal arc. They appear higher in the sky and are big enough to be incomplete like this. (ETA: between my undergraduate advisor and my college roommate, I know enough atmospheric physics to know what search terms to punch into google.)
http://en.wikipedia.org/wiki/Circumhorizontal_arc
Who am I to argue with Dr. Rocketscience?
I didn’t see a twin, and this was high up in in the sky, nowhere near the horizon. I can’t recall where the sun was in relation, though.