while walking outside with my wife taking out the home trash in the evening, we turned around to look at the clear cool sky. Towards our South we observed the full moon and a star to its 7o'clock position or rather its lower left. This I took it to be a planet since I used to star gaze. We walked to the container which was about 30 yards from us. Upon turning back walking to the door, we observed another bright object between the Moon and Planet. This was yellow, redish in color and as bright at the planet. We were perplexed and observed it for about 3 minutes. Then it started to fade as it began to move very slowly in a norther direction until it faded completely out. The object was stationary at first. We had no clue what is was. We did observe a commercial jet minutes later passing thru the same area and its blinking collision lights were visible but way too dim to be the same size as the object. Till now we have no clue what it was.