A chibi, big-eyed dragon perched in a lush forest surrounded by iridescent rainbow light, featuring a vibrant and trending color palette with depth of field for a full character concept. The scene showcases ultra-detailed, rendered visuals akin to a matte painting in animation lighting, with elements of turbulent fluid, fractal patterns, and smokey, symmetrical designs. The focus is sharp, set against volumetric fog and studio lighting, achieved with Unreal Engine 5 and Octane Render's raytracing capabilities. This depiction mirrors a Disney art style, capturing the charm and whimsy of the forest setting while maintaining a clear and enchanting atmosphere. Small creative touches emphasize the dragon's playful nature and the magical environment, trending on ArtStation with enhancements from Blender and MidJourney technologies.