For sure Kaepora Gaebora is the rencarnation of Rauru the ancient sage of light. the two gossip stones thogeter confirm it, and also the physicall similiritys.


.GOSSIP STONE ONE:
-"Kaepora gaebora is the rencarnation of a ancient sage",
We know that Rauru is a ancient sage.

GOSSIP STONE TWO:
- "but its character is rather lighthearted."
It's a game of words, to reffer to the light sage.