Inside an "LED small lamp".
I'm guessing these lights are based on the appearance of moving stage lights, and to be fair they do look the part. Let's open a couple and take a look inside.
If you enjoy these videos you can help support the channel with a dollar for coffee, cookies and random gadgets for disassembly at:-
http://www.bigclive.com/coffee.htm
This also keeps the channel independent of YouTube's advertising algorithms allowing it to be a bit more dangerous and naughty.