Well, at least this is an easy mystery to solve. Even out of focus, it is obvious that this is a blimp with an illuminated sign on the side. The Goodyear blimps have this feature and others may, too. The lights are programmed to display pictures and words. In the video, you can almost make them out.

It's a blimp. Ufo's don't have the double blinking red beacon light that the FAA requires.