Stars do change color over their lifespans, but this is a very slow process. The color of a star is determined by its temperature, and it takes millions or even billions of years for a star to significantly change its color.
It's possible you're thinking of a different phenomenon. Could you clarify what you're looking for? For example, are you interested in:
* Meteor showers: Some meteors can appear to be different colors, but this is due to the chemical composition of the meteor and not the star itself.
* Aurora Borealis (Northern Lights): The aurora borealis is a display of light in the sky caused by charged particles from the sun interacting with the Earth's atmosphere. These lights can appear in a variety of colors.
* Binary star systems: Some binary star systems have stars of different colors, but they don't "flash" colors, they simply appear as two different colors at the same time.
Please provide more details so I can help you find the event you're looking for!