I was walking back from the Cenex gas station on Main and Kansas Street , McPherson Kansas, I got to Maple and Sutherland street 4 way stop Saw a bright color changing light which was lighting up the ground and the tree tops, Looked up and saw a very bright rapidly changing in color light, Hovering in the South East, Object hovered for a few minutes, approximately 5 minutes, all the while flashing about 12 different colors, I stood and watched it for a while.. A police officer stopped and asked me what I was doing standing on the corner of the street, what I was staring at, I pointed it out to him and he saw it also.. He radioed another officer to call him on his cell phone.. They talked for a few minutes, and the other officer told him that he was east of town.. The officer I was talking with told me that he was going to go check it out, and told me to go home.. I started walking home, shocked at what I had seen, and was looking back at the light when suddenly silently and without warning, abruptly it Shot across the sky faster than I had ever seen anything move in my entire life, while still flashing colors and ended up in the North West Sky.. It was still as bright as It had been before, but further away this time, and just hovered there flashing colors.. I got home and pulled out my camcorder, but by the time I got outside I found that it had disappeared and was completely gone..