Dark round large disk like shape with colored lights in the center,silent , just above tree tops.

I know it was in the 80’s; I was young anywhere from 5 to 8 years old.  I was with my sisters and their friend. We just turned onto our road and my sister stopped the car and said, "Look!" 
There was a round object with red, yellow, and I think other colors around the center of it.  It looked as big or bigger than a house.  It was barely above the tree tops.
We slowly proceeded to the house and it seemed to go along with us.  We pulled into the driveway, got out of the car, and then watched it disappeared behind a hill behind our house.  
There was no sound.  We never took our eyes off of it.  It did not spin. The lights seemed to blink in order.
Witness indicates that the date of the sighting is approximate.  PD