Speculation is swirling on social media after strange, flashing lights were spotted over north Toronto on Saturday night.

North York residents took to Twitter to report the colourful lights moving in the Yonge Street and Sheppard Avenue area. Toronto Police confirmed receiving some calls about the flashing pink, green and white lights spotted in a single diagonal line.

A video of the lights was posted on YouTube Saturday by Sarah Chun, who described what she saw as: "A really bright orbital object...glowing!"

Theories over what the lights could have been included Chinese lanterns, drones, a kite with lights attached, or UFOs.

A North York resident named Alejandro told CTVNews.ca that he saw some kids in a park preparing a kite with a light rig attached on Saturday evening.

"After it got dark, a couple of hours later, I notice a line of lights," he said via email. "(It) looked like a very potent laser pointing vertical to the sky, but it was the kite these people were preparing."

Alejandro, who asked that his last name not be used, said he later saw the lights starting to descend to the ground.

Others speculated that the lights may have been flying lanterns that were released to mark the end of Ramadan.

And a tweet from a Toronto police officer with 32 Division on Saturday night had some speculating whether the light was coming from a "quadcopter"

I've been a police officer for 15 years. Tonight I have a first! My first report of a UFO!! He was serious! #quadcopter — Officer Craig (@PC7634) July 27, 2014

The officer also tweeted "quadcopter was up over Yonge Street north of Empress last night. Was launched from a building top," in a message that has since been removed from Twitter.

Police with the division confirmed that Brister was on patrol Saturday night, but added that they don't think he has a quadcopter or was operating one. They believe he was trying to be the first to claim seeing the 'UFO'.

Brister said he tweeted using the words "My UFO" because he was one of the first to report it and said he was not flying a quadcopter. He was only speculating the lights were coming from a quadcopter and that it was launched from a building top.