ELI5 Saturn - does it really rain diamonds?

Is it true that the temperature on Saturn is hot enough for it to rain diamonds. How can this be when the planet’s so far out from the sun? And how can this be given that Saturn is a gas planet? Why does Saturn have a Hexagon on its North Pole? Why are Saturn's rings almost perfectly flat and flush with each other?

... we explain like I'm five

Thank you to the r/explainlikeimfive community and in particular the following users whose questions and comments formed the basis of this discussion: 10sans, kschoes, agate_, cessnablackbelt, jaa101, drdimebar, turboaoul81, wild_tetsujin and busterwasmycat

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