We were in the back yard to observe uranus using binoculars. in the north east sky, which was clear, we noticed a shimmering light. we looked through the binoculars and saw a white, bright light with red and green orbs dancing around it. to the left of the object was what i can only describe as a "jelly fish" like mass that had multicolored lights inside. we observed it for over an hour. we did see airplanes flying below object, but object was stationary.