Emrakul has "protection from colored spells." By the time you can activate Rhonas's ability (i.e. he's on the battlefield) he's no longer a spell, and the Blade is not even colored. So yes you can do both.
The distinction in the case of Rhonas is the one between spells and abilities.
111.1. A spell is a card on the stack. As the first step of being cast (see rule 601, "Casting Spells"), the card becomes a spell and is moved to the top of the stack from the zone it was in, which is usually its owner's hand. (See rule 405, "Stack.") A spell remains on the stack as a spell until it resolves (see rule 608, "Resolving Spells and Abilities"), is countered (see rule 701.5), or otherwise leaves the stack. For more information, see section 6, "Spells, Abilities, and Effects."
112.3b Activated abilities have a cost and an effect. They are written as "[Cost]: [Effect.] [Activation instructions (if any).]" A player may activate such an ability whenever they have priority. Doing so puts it on the stack, where it remains until it's countered, it resolves, or it otherwise leaves the stack. See rule 602, "Activating Activated Abilities."
112.9. Activated and triggered abilities on the stack aren't spells, and therefore can't be countered by anything that counters only spells. Activated and triggered abilities on the stack can be countered by effects that specifically counter abilities. Static abilities don't use the stack and thus can't be countered at all.
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Emrakul's protection ability works only if Emrakul is on the battlefield and—
would be a target of a colored spell (such as Murder) (C.R. 702.16b, 112.6),
would be a target of an ability from a colored spell source (such as found in Vivien's Invocation [C.R. 603.12]) (C.R. 702.16b, 112.6), or
would be dealt damage by a colored spell (such as Lightning Bolt) (C.R. 702.16e, 112.6).
(By definition, spells exist only on the stack, not on the battlefield [C.R. 111.1], so they can't block or be attached to Emrakul [C.R. 506.3, 701.3b]; therefore, that part of the protection ability doesn't apply [review C.R. 702.16c-d, 702.16f].)
1. Can Emrakul equip a Hero's Blade?
2. Can I use the 2G ability of Rhonas the Indomitable to give +2/+0 and trample to Emrakul?
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I̟̥͍̠ͅn̩͉̣͍̬͚ͅ ̬̬͖t̯̹̞̺͖͓̯̤h̘͍̬e͙̯͈̖̼̮ ̭̬f̺̲̲̪i͙͉̟̩̰r̪̝͚͈̝̥͍̝̲s̼̻͇̘̳͔ͅt̲̺̳̗̜̪̙ ̳̺̥̻͚̗ͅm̜̜̟̰͈͓͎͇o̝̖̮̝͇m̯̻̞̼̫̗͓̤e̩̯̬̮̩n͎̱̪̲̹͖t͇̖s̰̮ͅ,̤̲͙̻̭̻̯̹̰ ̖t̫̙̺̯͖͚̯ͅh͙̯̦̳̗̰̟e͖̪͉̼̯ ̪͕g̞̣͔a̗̦t̬̬͓͙̫̖̭̻e̩̻̯ ̜̖̦̖̤̭͙̬t̞̹̥̪͎͉ͅo͕͚͍͇̲͇͓̺ ̭̬͙͈̣̻t͈͍͙͓̫̖͙̩h̪̬̖̙e̗͈ ̗̬̟̞̺̤͉̯ͅa̦̯͚̙̜̮f͉͙̲̣̞̼t̪̤̞̣͚e̲͉̳̥r͇̪̙͚͓l̥̞̞͎̹̯̹ͅi͓̬f̮̥̬̞͈ͅe͎ ̟̩̤̳̠̯̩̯o̮̘̲p̟͚̣̞͉͓e͍̩̣n͔̼͕͚̜e̬̱d̼̘͎̖̹͍̮̠,͖̺̭̱̮ ̣̲͖̬̪̭̥a̪͚n̟̲̝̤̤̞̗d̘̱̗͇̮͕̳͕͔ ͖̞͉͎t̹̙͎h̰̱͉̗e̪̞̱̝̹̩ͅ ̠̱̩̭̦p̯̙e͓o̳͚̰̯̺̱̰͔̘p̬͎̱̣̼̩͇l̗̟̖͚̠e̱͉͔̱̦̬̟̙ ̖͚̪͔̼̦w̺̖̤̱e͖̗̻̦͓̖̘̜r̭̥e͔̹̫̱͕̦̰͕ ̗͔̠p̠̗͍͍̱̳̠r̰͔͎̰o͉̥͓̰͚̥s̟͚̹̱͔̣t͉̙̳̖͖̪̮r̥̘̥͙̹a͉̟̫̟̳̠̟̭t͈̜̰͈͎e̞̣̭̲̬ ͚̗̯̟͙i͍͖̰̘̦͖͉ṇ̮̻̯̦̲̩͍ ̦̮͚̫̤t͉͖̫͕ͅͅh͙̮̻̘̣̮̼e͕̺ ͙l͕̠͎̰̥i̲͓͉̲g̫̳̟͈͇̖h̠̦̖t͓̯͎̗ ̳̪̘̟̙̩̦o̫̲f̙͔̰̙̠ ̹̪̗͇̯t͖̼̼͉͖̬h̹͇̩e͚̖̺̤͉̹͕̪ ͚͓̭̝̺G͎̗̯̩o̫̯̮̟̮̳̘d̜̲͙̠-̩̳̯̲̗̜P̹̘̥͉̝h͍͈̗̖̝ͅa͍̗̮̼̗r̜̖͇̙̺a̭̺͔̞̳͈o̪̣͓̯̬͙̯̰̗h̖̦͈̥̯͔.͇̣̙̝
Anyway, all clear to me now. Thanks for the answers.
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111.1. A spell is a card on the stack. As the first step of being cast (see rule 601, "Casting Spells"), the card becomes a spell and is moved to the top of the stack from the zone it was in, which is usually its owner's hand. (See rule 405, "Stack.") A spell remains on the stack as a spell until it resolves (see rule 608, "Resolving Spells and Abilities"), is countered (see rule 701.5), or otherwise leaves the stack. For more information, see section 6, "Spells, Abilities, and Effects."
112.3b Activated abilities have a cost and an effect. They are written as "[Cost]: [Effect.] [Activation instructions (if any).]" A player may activate such an ability whenever they have priority. Doing so puts it on the stack, where it remains until it's countered, it resolves, or it otherwise leaves the stack. See rule 602, "Activating Activated Abilities."
112.9. Activated and triggered abilities on the stack aren't spells, and therefore can't be countered by anything that counters only spells. Activated and triggered abilities on the stack can be countered by effects that specifically counter abilities. Static abilities don't use the stack and thus can't be countered at all.
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See also this thread.
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