I was standing on my backyard deck smoking a cigarette when I noticed a very bright star that was pulsating, then I realized it was actually moving North to South. When I first saw it, I thought perhaps it was a plane, but the lights just didn't look right, the color was off. I then noticed that there was a plane (very recognizable) moving south to north directly at the object. I was concerned because I thought maybe they would hit each other as they were both pretty well lined up, but as the plane got closer, that is when the object dulled then I couldn't see it anymore. I was then thinking ok, not an airplane, maybe a really bright satelitte? I then went inside the house to tell my husband what I saw, then I went right back outside and notice that there was a very round and transluent object that appeared to me about the size of a nickel or so at about a 60 or 70 degree angle, at this point, I am asking my husband... not quite calmly to come outside and look because I thought maybe I was seeing things. He came outside and he also saw it moving from the north to the south going directly over our heads. It looked very much like a jellyfish. It at this point had a pale white light emminating from it, It was very round. It went behind the trees, and my husband ran through the house out the front door to see if he could see it anymore, I went inside to see if I could find my phone so that I could take video. I found my phone, headed out the front door and saw my husband standing in the road, he said he couldn't see it anymore.My husband said that he saw it from the front of the house when it changed shape to more of a crescent, like it morphed and headed east. He said he thought he saw it turn red as it did this, and that he thought he saw 6 pale white lights around it, but not like they were attached to the outside, more like they were just a part of it. It moved like a living thing. He said he was thinking to himself "did I just see what I think I just saw?" Once it changed direction and headed east, it went past the trees in the neighbors yard and he could no longer see it, he said he wasn't sure if it was decending, or it just looked like it was since it was moving, as it was deceptive.We discussed this for a while after we saw it, and were trying to decide what we had seen, we thought of balloons and parachutes, ultralights, but nothing we have ever seen before, compares to what we saw last night.I do have to say that my husband thought it was more like the size of a pea, whereas I thought it was more like a nickle, I would more likely trust his judgement, because I think I might have been more excited about it than he was. He tends to keep his cool better than I do in highly excitable circumstances.