Pulsing colored object performing incredible maneuvers

I walked out of my work shed saw what looked like a star but caught my eye with multi color type pulsing.  Observed this object shoot upwards a significant distance then a few seconds shoot back down.  Then it shot straight over to the right then back upwards again at great speed.  At one point it completely disappeared and almost immediately reappeared way over to the left of where it had been.  Physically impossible for any conventional aircraft to perform such maneuvers as it would impose incredible G-force on the object.  Called my wife to come down and witness this behavior which continue for another 5 minutes then the object disappeared.  It was quite a show.  Honest to God all true and no plane or planet, this was real.