Observed orb of light flashing through mutiple colors about the size of a large pea held at arms length. Estimated 1.5 miles distance. Light changed to strobbing orb at a rate of 140 beats per minute or so. Ran inside to get my binoculars and observed the object moving slowly off to the North until it disappeared from view. I have seen a similar object at fairly close range in the same area several years ago with an additional witness.