Large flickering light rising slowly in sky.I live at college right now, and as I left my dorm for an evening snack, to be found in a different building, I saw a large, flickering light. (By 'large' I mean 'too large to be a star'.) The light was round and approximately 4-5mm in dia.Keep in mind that my dorm is roughly rectangular, three stories tall, and has a courtyard in the middle. All dorm rooms open towards the courtyard.So as I exited my room, the light was just above the line of the roof. My best guess as to cardinal direction would be West-Northwest, but do NOT treat that as anything but a guess. I can tell you that I could see the moon clearly from where I was standing, and that the light was below and to the right of the moon considerably.The light was moving slowly, but visibly, upwards. I would say it moved about 1mm up (to my eyes) every second or so; again, a guess -- I have a poor sense of distance.It kept changing color as well, and very rapidly at that -- at most, it stayed one color for 1/4 second, probably more like half that. Distinct colors were blue, white, and red, in that order. Very hazy, too -- its boundaries were blurry. About 1-1.5mm of its diameter was blurred.That's all I've got.