LIght bright-like object seen hovering and slowly moving around fairly far away in the sky

My friend and I were sitting at this location - it is a small cliff like projection overlooking a highway. Friends (high school age) from that neighborhood often hung out there, drinking, smoking, etc.
It wasn't dark at all yet but it wasn't bright out - maybe the sun had set just before? We would have been looking southwest-ish from our vantage point.
As utterly stupid as this sounds, it looked like it was made up of colored lights, very much reminding me of an old school game\art thing called Lite Brite.
We just watched it for a while, made a few jokes at first but just kind of stared at it for 5-10 minutes. It didn't move very much... I think we just left after a while.