Lights moving faster than an airplane in the sky. Stopped and hovered.My grandpa went outside. A few minutes later he called me outside. We both saw lights bright blinking red, white, and green. It was far away and was going from north to south at a very fast pace then stopped and hovered. Then it dropped a bit and jumped up and down quickly. It kept hovering then jumping up and down.We see airplanes, satellites and stars all the time because we live in the country but have never seen anything like this. We went inside to grab the camera took about five minutes to find the camera but it was gone when we returned outside. There was a smell like something burning but we couldn't locate the source.