I was sitting outside my cousin's garage when he told me to check out a shooting star in the distance. I turned to the left (west) and saw a bright blue "large sized star" object shoot from the tree line up towards the brightest star in the sky in less than one second.The blue light now made a weird irregular box pattern where it went to the right about an inch, down, to the left, up, right, up, down, left, then back to the previous spot at the star. During this time the light remained the dark blue color. During this time, we were trying to make sense out of what it is we were looking at.Next, the object started to hover but expanded to the size of a dime and was bright blue. Inside the blue LED looking light we saw black features and lines on the object. The color suddenly changed to a green, then to a deep red, then an orangish/yellow, then to an intense bright white. Each color was emitted for roughly 2-3 seconds without flashing.After the series of color changes, the object immediately shrank back down to the star size and returned to a blue dot which moved in the sky. At this time I realized I was seeing something unique and took out my phone to record a video. We watched this phenomenon for approximately 45-60 seconds before I recorded the remaining portion of the sighting.The video is 28 seconds and shows the blue star descend towards the tree line, changing color to green, then to white. It now goes behind the trees to the left, pops back out to the right, increases in size, grows larger and turns white, then goes left into the trees, starts flashing, and then it left.We heard a noise on 3 separate occasions while watching the craft. At first, I thought the noise was generated from a screen door opening and making a low creaking noise. However, the slight hum occured just before the object ascended or descended. During the actual path, the object was quiet. It was a quick burst of a humming noise that could have easily been talked over.The event did not leave an uncomfortable feeling with either of us the feelign was pretty soothing as we were watching this. Both of us were in complete disbelief of what we noticed that night. When we saw the object increase in size and begin the color sequence, we both realized that we saw a UFO. Here are a couple other pertinent details: 1. Dallas Ft. Worth airport 20 miles south of the sighting. 2. Airplanes were making their initial descent in the background before and after the event (not during). 3. It would take an airplane approximately 30 seconds to travel the path that this object could cover in less than one second 4. There are only two rows of streets between the sighting and Lewisville Lake 5. Lewisville Lake is approximately 2,000 feet due west from the house 6. Between the lake and houses are hiking trails 7. It was clear that the object was flying above the lake 8. Route 35e crosses this lake on a bridge about 5 miles west of the spot we were at. There are no lights from the horizon in that direction.