We were at the lewisville square fireworks and on the way walking back to husband's grandmother's house walking down styersferry rd. We saw a purple blueis light in the sky, to low to be a plane and it was hovering. To small to be a basic drone and also no helacopter noise. As we got closer to his grandmas house the we came closer to the light. Other people were shocked to see it and wondered what it was. On thr way back we noticed about 10-15 people we know saw it. The fireworks started their finish , and the light started flashing red lights instead of the blue green purple, then it went back to those, and then back to red. Right as thE fireworks finished up it turned blue then started heading east at a slow to normal speed. I reported this as ufo because of characteristics and how it does not match with helacopter or drone. I would like to know if anyone else saw this or if someone has insight on it. So crazy !!! 8o