The Pink Planet is one of the many planets found in the Space Dimension.
The Pink Planet is a floating "sphere" (not a true sphere due to Minecraft being made of cubes). Its surface is made of pink wool, pink dyed clay and some glowstone, the one makes the planet to glow in the darkness of the space. It's a big planet, but smaller than the Diamond Planet.
The Pink Planet is the home of many Pink Sheeps, all of them identical to the original one in appearance and personality, much to the shock of the Overworld pioneers (such as BaconCrafter in If a Space Dimension was Added)