My cousin shared this post on Facebook from another site. When I first saw it, it seemed like something out of Sci-Fi movie where the aliens are coming to take over the Earth, but as it gets closer you can see is is a carefully choreographed air show of seven planes; five planes in formation with two looping circles around the colored trails.
In checking into it is not air contrails,which are made of ice crystals at high altitudes, but colored smoke similar to Skywriting where oil is injected into the hot exhaust per Contrail Science
A Flyer - Air Show Terms give a further explanation, indicating it is:
"Created by a miniature high-speed pump transferring very light-weight paraffin-based oil from a reservoir in the plane to the final stage of the exhaust system, where it "smolders", but does not burn. This oil, usually Texaco "Corvus" oil has a very high flash point, and is biodegradable. The smoke leaves a trail across the sky that lets spectators appreciate the geometry of the aerobatic performance.