7 or 8 rows of red lights

My cousin and I, both about 7 years old at the time, were outside. It was pretty late at night, around 11 or 12:00. I don't exactly remember what we were doing, but we looked up into the sky and there was this big round thing floating in the air. As I remember, it had red lights lined all around it. It probably had 7 or 8 lines of them... sort of like xmas lights on a tree, but the lights were different sizes. I think I remember seeing some of the lights blink, but I could be mistaken. I couldn't say how big it was exactly, but it seemed to me to be pretty big. It was kind of spooky to see at first, but then we went back to playing tag for a while and I remember looking back up at the sky and it had gone.