Tabbed By Tim T.  

It sounds like it might be a 12-string guitar used in this song. Or not.
Capo 5th Fret. Standard Tuning.
All chord shapes relative to capo.                         F#/A

Intro/verse: fingerpick over these chords                   o
                                                            2
[A     A7M   A   F#/A]x2    2 
D5         DI  D5   A5                                       4
           ^   ^                                            x
           5   4                                            x
           3   3
           2   2
           0   0
           x   x  
           x   x

Chorus:

B5                E5
I've always been chasing rainbows
B5               E5
Staring out of classroom windows.
G5                  D5        B5
I don't think I'll ever be happy,
                         D5         E5   E5  E5
Unless I'm unhappy and hugging my grudge.


Thats pretty much it. Listen to the song for the fingerpicking pattern and strumming patttern. Great song.