The whisper's been started by 9to5Mac - the same chaps that predicted the mini player's switch to video. They've been sipping tea with the iPod suppliers in Asia who'll purportedly be making them.
If true, the colourful creation will be the first addition to nano's palette since pink nano came on the scene in January. But the new model won't just be getting a new splash of rainbow paint. A doubling of capacity to 16Gb and 'new features' are also on the cards.
Any guesses as to what the new features might be? Your answers on a postcard - or in the comments box, below.
Apple iPod nano 4GB, 8GB
Price: £100, £130
On sale: TBA