Standing on south-side curb of Elvira Ave (street runs west-east) facing north during fireworks. Observed green light similar in appearance to a planet or star on a clear night but somehow obviously not as distant - initially appeared to be 5 miles away but seeing a wider radius of reported observers on this site. The stationary appearance of Green object changing to Red was noticeable. Unsure of degrees from horizon - I am 6ft tall and light was spotted between and beyond powerlines running parallel to, and behind Elvira houses across street. Movements: After hovering stationary for quite some time, drifted swiftly eastward and remained stationary again (wind was blowing from ocean). It may have been LED decorated drone with camera recording aerial fireworks. Only question is when it descended and ascended in return to same spot - where did it go/land? It seemed to slowly drift back to previous location, then "dropped", then later re-ascended in original spot. 3 videos, 440 MB, EXIF data likely available. Annoyingly and frustratingly, crappy camera quality in combination with night, smoke, haze, and street light make it a grainy picture, however, some video footage shows small plane/helicopter (also unidentifiable) cruising east to west on it's own journey while "start" hovers. (If media upload fails, then request dropbox).