In order to study the dynamics of colloidal suspensions with viscoelastic solvents, a simple mesoscopic model of the solvent is required. We propose to extend the multiparticle collision dynamics (MPC) technique-a particle-based simulation method, which has been successfully applied to study the hydrodynamic behavior of many complex fluids with Newtonian solvent-to shear-thinning viscoelastic solvents. Here, the normal MPC particles are replaced by dumbbells with finite-extensible nonlinear elastic (FENE) springs. We have studied the properties of FENE-dumbbell fluids under simple shear flow with shear rateγ . The stress tensor is calculated, and the viscosity η and the first normal-stress coefficient 1 are obtained. Shear-thinning behavior is found for reduced shear rates =γ τ > 1, where τ is a characteristic dumbbell relaxation time. Here, both η and 1 display power-law behavior in the shear-thinning regime. Thus, the FENE-dumbbell fluid with MPC collisions provides a good description of viscoelastic fluids. As a first application, we study the flow behavior of a colloid in a shear-thinning viscoelastic fluid in two dimensions. A slowing down of the colloid rotation in a viscoelastic fluid compared to a Newtonian fluid is obtained, in agreement with recent numerical calculations and experimental results.