I see small points of colored lights too. Usually blue or green, sometimes red. I'd agree that they are elementals. We have fairies that hang around us. My daughter started to see them when she was about 4. It started by her seeing a red dot of light. I was trying to get her ready to leave for preschool and she didn't want to go, she started crying and I sat her down on the couch to calm her and talk to her and out of the blue she asked what that red dot flying around was. I ask her where it was now and she said it was on my knee! I didn't see anything nor feel anything. Since then (9 years later), we've had many, many, many visits from them.