My wife was closing the patio door blinds at 10:15 pm when she saw an unusually bright star like light in the north west sky just above the horizon. she called to me and we observed the object for 30 minutes with seven power binoculars before deciding to file this report. the object appeared to have a large pulsating bright white light. below that were several smaller randomly flashing red, green, and blue lights. i first thought it to be an approaching aircraft since we are near an airport. the object remained hovering at an azimuth of about 22 degrees and at a constant compass bearing of 320 magnetic. the object did not move closer or further away throughout our observation.