Unmoving object, diamond shaped with lights on top, bottom and around center.

My (then) 8 year old son came out of his bedroom 2 hours after his bedtime to tell me that he was unable to sleep due to being scared of "something" he could see out of his bedroom window above the neighbor's house diagonally across the street. This was during the time that Haley's comet was appearing, and I assumed that this was what he was seeing. I looked out of his bedroom window and saw a diamond shaped object above the neighbor's house, just as my son had said.
My husband and I took our binoculars and went out to the front lawn. This object wasapprox. the size of a nickel held out at arms length. It had yellow lights on the top and bottom, and red and green lights going around the center of the object-like rippling on and off. The object was not moving and was not making a sound. My son said he first noticed it about and hour and a half before he even came and got me.
My husband made a comment that maybe someone had strung a huge Christmas ornament on a flagpole. I also called a neighbor and asked that she come and witness this because we all thought we were seeing things. My son and I were petrified. He and I both even today remember the feeling of being scared.
I went into the house after an hour and called the yarmouth Police Dept and asked if they had any calls on a UFO sighting, and the dispatcher laughed at me. He offered to give me a phone number of a UFO reporting organization, but I refused because this is a small town and I knew what was going to happen (and it did...a few people made jokes about this..like we were crazy).  I even went as far as to run around my house and double lock all the doors and windows (my heart was racing). My husband made the comment "Do you really think that if this is a UFO that locking doors and windows will keep them out?". But, to this day, 18 years later, my son and I still talk about it.