Odd blinking light in sky moving in odd ways.My family and I had just gotten back home from going out to eat and my son saw Orion’s belt in the sky. He asked if he could break out his telescope and look at the stars since the moon’s not out. We said sure and went into the back yard to do a little stargazing.We had been outside for about 20 minutes and had seen a few shooting stars and a few planes. We all kind of fixated on this one light though that my wife thought was a plane because you could see it blinking, but I thought was something else (honestly, I thought it was a star) because I was able to lock in on it through the telescope. I said that if it were a plane, then I wouldn’t be able to hold it in the telescope long enough that we could all take a look at it.We started watching it at about 2012 as it started to do some pretty weird things. First it would blink like crazy (white, red, and blue), then it would just sort of twinkle a little. Then it started swinging left and right, just sort of rocking back and forth. It also started bouncing up and down in the sky and doing loops (moving in a circle) in front of us. I saw three planes in the sky around this odd light that were able to move along like I had seen most planes do, but this thing was still in more or less the same place it had been at when we first saw it after almost half an hour.At 2040, we decided that we needed to go in since it was cold and the kids have school in the morning. We ran into my neighbor, who we showed the light in the sky to, and he said, “That’s cool.” And then went to get his wife to show her too. That’s when I came inside and started talking about maybe calling the local police or something. My wife was outside still, but when she came in she asked if I was serious, told me that she had seen the light go out and come back on again, and then looked up a way to report a U.F.O.((NUFORC Note: "Twinkling" star, possibly Sirius. PD))