This document presents a research proposal for identifying rumors on Twitter. It first defines rumors as unverified information statements circulating in contexts of ambiguity or threat that help people make sense of situations and manage risk. The proposal then discusses identifying rumors based on their context, function, and content. It suggests detecting sudden increases in word frequencies and mapping word connections to identify rumor-related terms. A rumor annotation scheme is proposed that considers context, function, content and ambiguity levels. Tweets would be categorized as speculation, controversy, misinformation or disinformation using chosen measures. The goal is to better understand rumor spreading online and provide context to interpretations.