In both academic and policy contexts, two of the most widely researched and discussed diversity ideologies are multiculturalism (i.e., acknowledgment and celebration of group differences) and colorblindness (which can involve focusing on group similarities and characteristics of individuals instead of differences). However, both diversity ideologies have potential drawbacks, and their implications for intergroup contexts beyond race and ethnicity are not well understood. Given that the United States is becoming increasingly diverse in terms of religion, gender identity, and sexual orientation as well as race and ethnicity, we propose a “multiple forms” approach to diversity ideologies, particularly multiculturalism. We suggest that explicitly emphasizing the importance of many types of diversity may be beneficial for dominant and non‐dominant group members and for institutions and organizations more broadly. In this article, we present an overview of the “multiple forms” approach and what it would entail, review empirical evidence supporting its potential effectiveness, discuss the psychological and legal advantages and challenges involved in implementing such an approach, and offer concrete policy recommendations for doing so.