In 2016 September, the microquasar Cygnus X-3 underwent a giant radio flare, which was monitored for 6 d with the Medicina Radio Astronomical Station and the Sardinia Radio Telescope. Long observations were performed in order to follow the evolution of the flare on an hourly scale, covering six frequency ranges from 1.5 to 25.6 GHz. The radio emission reached a maximum of 13.2 ± 0.7 Jy at 7.2 GHz and 10 ± 1 Jy at 18.6 GHz. Rapid flux variations were observed at high radio frequencies at the peak of the flare, together with rapid evolution of the spectral index: α steepened from 0.3 to 0.6 (with Sν ∝ ν-α) within 5 h. This is the first time that such fast variations are observed, giving support to the evolution from optically thick to optical...