A neighbor friend called me around 9:50 PM as she was walking her dog and asked me to come outside. I saw her waiting by the street and she point to the Northwestern sky and asked me what was that up there. At first, I said oh that's either a gaseous planet/sun that is usually up in that area but this thing was about 4 times the size of the star that would be in that area. The round/spherical planet like object was a lot larger than the star I first thought it was. The star is normally a pen mark in the sky and this light was about 4 times larger (even closer and very bright). The main light was a bright white round shape which was pulsating colors off all around it, yellowish/orangish, bluish, red. This light wasn't quite to the horizon line yet and we stood there watching it for nearly 5 minutes. The neighbor thought that it moved a bit to the northwest but I thought that it could be the illusion of the lights being thrown off the side of it in that direction. I asked her to take a ride up the road a bit to get into a tree clearing that we could see more of the sky in and we both went to lock our doors and head to the car and when we came out not five minutes later this thing was gone (and not passed the horizon line either). We took a ride due west about three miles to where there are no trees and you could clearly see this round spherical object was completely gone and there were no clouds in that area blocking any light. We did have small wispy clouds over us but you could see other stars through them and there were no thicker type clouds around. We both also knew this wasn't a plane as it was stationary for the most part and didn't have the usual plane lights. It also couldn't have been a satellite as they don't just stop and throw off various colored lights. If that was a planet than it's path must've come a lot closer to Earth than I've ever seen it in the past nine years. I've been out watching this area of the sky for the past two nights and the planet I first thought it was is very small off in the distance and doesn't resemble what we saw two nights ago.