I figured it out myself, here's the code:
public class Input{
private static boolean escDownOnLast;
private static boolean escToggled;
public static boolean rainbowOn(){
if(Keyboard.isKeyDown(Keyboard.KEY_R)){
escDownOnLast = true;
}else if(!Keyboard.isKeyDown(Keyboard.KEY_R) && escDownOnLast && !escToggled){
escDownOnLast = false;
escToggled = true;
return escToggled;
}else if(!Keyboard.isKeyDown(Keyboard.KEY_R) && escDownOnLast && escToggled){
escDownOnLast = false;
escToggled = false;
return escToggled;
}
return escToggled;
}
}