As far as I know, the Phoenix appears randomly, the chance of it appearing is triggered by reaching a certain milestone / event that I cannot remember (check it on Wiki).
Not True. I have PKM and a shit load of crap in my HoM but still don't have that phoenix
QUOTE
You need PKM, and something in all monuments.
Well I'm gonna try it today, the only thing missing in my HoM is armor cuz I wear mixed armor (unlike most people, I don't like carrying around all different kind of armors, waste of space, if it can't be sold for cash it shouldn't be in my inventory)
the rainbow phoenix will only appear when the following conditions are met:
no one else is in your party, including heroes and henchmen.
all four tapestries have been displayed.
the character has achieved the second level of the maxed titles rank, "people know me".
