Erika-
I think that's a Mayfly larva. I haven't had very good luck raising them.
They might do well on a diet of Cyclops if you have any (seriously, I think
that's what they eat.) Fish eat Mayfly larvae when they get the chance and the
larvae aren't too big.
The bruise on the side of the rainbowfish is a cause for concern however. If
it increases in size you might suspect a Mycobacterium infection. Clean fresh
water and low carbohydrate food would be in order.
=steev