I went outside for a cigarette and noticed a craft of unknown type in Easterly direction from me, it was emitting lots of different colours, and was hovering in one spot. The thing that made me notice it is that I've never seen such displays of colour and hovering/movements of this object in other airborne craft such as planes and helicopters. I observed it for a long time, it would hover in one spot blinking different colour light patterns, then it would move straight down, sometimes sideways in a rapid motion or slowly at other times. I kept trying to take photos of it on my iphone which wasn't giving me very good results. I went inside the house to get my partner to come outside to show her this object. She got her Nikon camera with a zoom lens, and did her best to get the camera to focus on this object, which was proving difficult. She managed to take a few photos that came out really well which showed a triangular shaped object with lights along the edge. It was not possible to judge the shape of the craft with the naked eye. I also tried to take video footage on my iphone, it was difficult to hold the phone perfectly still, and I ended up resting my arm on a table in order to hold the phone as still as possible. I also tried to include the clothes line as a reference point and to be able to judge the objects movements. After observing it for some 80 minutes, the object slowly moved lower and lower and away from my vantage point until I could no longer see it over the trees. It was difficult for me to tell whether it landed somewhere or just disappeared over the horizon. During the sighting I was puzzled and kept trying to imagine what it could possibly be, as I had never seen anything resembling what I observed.