Here is a simple circuit which can be used for decoration purposes or as an indicator. Flashing or dancing speed of LEDs can be adjusted and various dancing patterns of lights can be formed.
The circuit consists of two astable multivibrators. One multivibrator is formed by transistors T1 and T2 while the other astable multivibrator is formed by T3 and T4. Duty cycle of each multivibrator can be varied by changing RC time constant. This can be done through potentiometers VR1 and VR2 to produce different dancing pattern of LEDs.
Read more inforamtion here: hackedgadgets.com/2006/09/27/dancing-led-lights