I was in my backyard starting a fire when I decided to take in a little night sky. I noticed immediately a kind-of purple light in the sky. It was almost directly overhead. I thought it was a plane at first and that I was observing the red and blue lights blending into a purple. I realized though, after a few moments, that the object was stationary. Then it moved slowly northeast and in this process the purple light divided to blue and red without actually separating. Then a white light was also visible, but no sound. Then it stopped and became purple-like again. The color almost appeared to be constantly changing. At this time I observed an airplane flying overhead and was able to distinguish that this object was at a much greater altitude than the airplane. I continued watching the object and was so mesmerized and in fear of losing sight that I yelled for my wife until she came outside so that I would not lose sight of this thing. She immediately noticed the object when I pointed it out to her. We watched the obect for a couple of minutes while I explained why I thought this thing was suspicious. The object glowed white while the purple divided to red and blue once again as we both watched the object begin to move slowly, this time back towards the southwest. All the while remaing generally overhead, it was not moving very far at all. Until it just decended faster than I would believe possible for the height it was at. It was unreal. As it decended I could clearly see the separate colors in the lights. It got considerably larger and kept dropping until I couldn't see it anymore. It was a controlled decent, it was not falling. The trees obscured my view, but it looked like it was going all the way down to the ground. Either that or it was flying at a low height. It was honestly not that far away either, no more than 10 miles. I stayed outside for another hour watching the sky but didnt see it again. I was in disbelief afterwards, I felt like I just got a solid look at something beyond explanation.