Pulling up to my house in my vehicle, coming from a friend's house(I approached from the east), I noticed a ball of light as big, or slightly bigger, than the brightest star or planet I've seen to date. The light was almost inline with my house from my POV. I was looking approximately 211 SW.What had caught my eye wasn't it's size, but it's colors. Red, blue, white, blueish-white, just fading from one color to the next. For the first few minutes I thought maybe it is a helicopter.But after watching, trying to discern and tell myself it's a helicopter, the way it swayed back and forth such a distance. The sway up and down was probably a 1/4 of the sway back and forth.From my view, side to side an inch.Up and down 1/4" to 3/8".Sometimes these sways looked like small figure 8s, sometimes oblate circles, sometimes bouncing.I decided to go into my backyard and view from there, given it's trajectory, I soon wouldn't see it from my driveway.I got to my backyard, 30 seconds to a minute later, easily spotted it.Well I still told myself it could be explained, and I tried to record it, but my phone probably isn't sensitive enough with the few street lamps around. Could hardly even see a dot on the screen. Definitely not enough to discern much color variation.All the while slowing making it's way to my right, to approx 235 SW then falling behind a tree line. Treeline being about 3/8ths of a mile away. Maybe 100' tall. About 10 - 12 degrees high from my POV. Well not 3 minutes later, it came back from behind the treeline...approx 245 SWI decided to check google Sky and orient myself with the stars, thinking I could disprove it to myself, that it was just another star or a planet.So I oriented myself with the stars and google sky, and found that the closest star that is the brightest, was still about 30 degrees off.So I discerned it wasn't Sirius of Canis Major, however it did cross it's path in it's swaying pattern across the sky.Well it disappears again, but this time doesn't seem to be a treeline, it just simply goes dimmer and smaller... Well I wait about 2 minutes just to be sure, and sure enough it comes back, but a lot further to the right.However, it could have been another entity all together, given the same patterns of light and pattern of movement, I'd say it's the same one.This object continued in same mannerisms, lasting maybe 4 more minutes until about 285 W, then started to fade out, but this time, losing a single color every few seconds. Dimmed and faded like before.Sometimes this thing moved fast, sometimes it just creeped in small circles.The whole time I was dying to know what it was, just had to keep watching it. Hoping it would come closer.When I got in my backyard, seemed almost mesmerized, I had to keep making mental notes of what it was doing, and where it was. It seemed as if time elapsed much faster just staring at it.Immediately afterwards I checked to see if maybe someone else had seen this, but nothing like this in my area.