It was a star shaped object travelling south that stopped, changed colors, and sped off dissapearing in the night sky.

My neighbor and I were outside in my driveway talking and my wife came out to see if I wanted to come in and watch the news on TV. My neighbor commented on what a clear night it was. As I looked up to comfirm his observation I saw an object that looked like a star moving from north to south high in the sky. I asked my wife to go in the house and get my binoculars while I kept the object in sight. I found the object with the binoculars and, of course, it looked bigger. Then, all of a sudden, it stopped, turned crimson red and zipped off in the same direction(south) changing color from crimson red to bright red to bright yellow to bright white then suddenly vanishing.
Date may be approximate.  PD