Appeared like an air balloon light. Red flame at the top, orange in central area and yellow at the bottom. Flames area rectangular in shape. Moving slowly at about 800/700 feet just below cloud level down to about 500 feet. travelling from SW, then turned to E rising in height. Turning to SE continued to rise at a faster speed continually gaining speed until it disappeared. possibly over a period of maybe 3 to 4 minutes. My son and his friend also saw it and tried to take a photo of it. Did anyone else see anything?

See above

Don't know what it was. First thought it was a balloon but they do not fly at night. could only see the "flame", nothing else. Was wondering if anyone else saw it or was there another explanation!