Watched a strange light for about an hour. During its flight, it made numerous odd flight changes, including bouncing up and down like a ball. It also changed shapes, including separating into 3 individual lights. At one point it seemed to change into a mist like form, but was still illuminated and visible.While on a fishing trip at Heron lake in Northern New Mexico, I witnessed a strange light rise very quickly above what appeared to be the Taos area, in the East from where we were. The light was constantly changing colors from green to red to white to blue. I thought it was a military helicopter because they are always up in that part of the wood, but then it shot straight towards us, real fast like. We're talking 100 miles of ground between Taos and Heron, and that thing zipped it in thousands of a second. It stopped like almost over the lake, but must have been up around 8,000 feet or so. It continued to hover in place and change color for approx. 10 minutes or so. At this point I woke my daughter to see the UFO, cause it was almost 3am by this time and my fishing party was all bedded down for the night. We sat and watched and even tried to wake the others, but they dismissed me as being drunk or tired or something, which I was not. I continued to fish and to watch this THING, and we began to talk about it, when it started to change. It slowly seemed to vaporize. It turned into a cloud, but was still illuminated and was quite visible. It stayed in this form for about 5 minutes or so and then became one solid light again. At this point my daughter got scared and went back inside the camper, she's only 8yrs old, and this was something that really struck her as odd. I reeled in my fishing line and just sat there letting the fire die and watching alone when the thing started bouncing up and down at a very fast rate. It resembled a rubber ball, just bouncing up and down for at least 4 or 5 minutes and then stopped. Then it started to go from side to side, back and forth, at what seemed the same distance of travel each time for about the same duration of time as before. Now I was becoming scared, and was putting my gear away, when it stopped and then split into three separate lights, and formed a triangle and remained motionless for what seemed 15 minutes. I smothered the fire and sat in the door way of the camper and watched as it re-shaped into one solid light again. Now it was close to 3:30 am or so and when I got up to go inside, it shot off towards the West towards Dulce New Mexico, about another 40 miles or so. That was the last I saw of it, when it positioned over Taos before I went to bed. This is the 3rd strange object I personally have seen in this area, and is the longest viewing and strangest of all my encounters while in this wilderness area.