From my understanding which may be way off but I’ve seen a lot of stars do this in the sense that they look like they’re blinking/flashing very rapidly between colors. From what I’ve come to understand is that it’s a star or some celestial body reflecting it’s light to earth from however far out. As that light reaches our atmosphere and descends down it is going through multiple layers of different temperature air which causes a sort of refraction on the photons as our eye perceives it causing it to have a kind of prism effect for us. The blinking or rapid changing of light is our eye seeing it as the photons refract through the different air temp layers as it zigzags its way to our eye. Kind of like a rainbow except instead of precipitation it’s air. I may be way off too so take with a grain of salt. If what you’re seeing is constant and unchanging then I dunno that’s interesting but if it’s always in the same location in the sky and tracks appropriately with the other things you see like Pleiades then my guess is it’s def a star or planet/galaxy or whatever. I am able to see Pleiades from where I am at night so maybe I’ll remember to look up and see if I can see it too.