What is a transparent material that refracts light rays?

A transparent material one that allows light to pass through with little absorption or distortion. If there is distortion, one might use the term translucent instead of transparent.

More technically, one refers to a materials as being able to transmit light for a particular range of color as being transparent in that color range. Water is transparent for light in the range that the human eye can detect, but just outside that range, it becomes highly absorptive and would, if we could see, appear black. This is generally true for glass, air, salt and other materials which we would nominally characterize as transparent. Objects that absorb in a portion of the visible spectrum will transmit light

that is a color formed from the portion of the spectrum that is not absorbed (portion that is transarent).