Anyone have a idea how to work this out i have asked multiple times?

local object = script.Parent
local position = object.Position
local debounce = false
local waittime = 0.5

script.Parent.MouseButton1Click:Connect(function()
    if debounce == false then
        debounce = true
        if script.Parent.Text == "On" then
            script.Parent.Text = "Off"
            object:TweenPosition(position,nil,nil,waittime)
            script.Parent.BackgroundColor3 = Color3.fromRGB(255,64,67)
        else
            script.Parent.Text = "On"
            object:TweenPosition(UDim2.new(0.714, 0, 0.102, 0),nil,nil,waittime)
            script.Parent.BackgroundColor3 = Color3.fromRGB(115,255,120)
        end
        wait(waittime)
        debounce = false
    end
end)

i have that script and i want when its on to turn a text to rainbow and when its off to turn it back to white the rainbow script is

function zigzag(X) return math.acos(math.cos(X*math.pi))/math.pi end

counter = 0

while wait(0.1)do
 script.Parent.BackgroundColor3 = Color3.fromHSV(zigzag(counter),1,1)

 counter = counter + 0.01
end

and the thing for what i want to turn rainbow is script.Parent.TextButton please respond quick thanks