The PCB looks like a typical solar garden light - it probably flashed when you cast a shadow over the solar panel, they sense the current from that to turn the LED off during daylight.
I see an inductor, the blue part is marked, "L1". That indicates it is a Joule Thief or a voltage boost circuit running off a single AA ni-cad.Some types have a colour changing LED that needs 4V
Here's a strange idea: That flotation part might indicate this is a pretend buoy so you can race your RC boats around the marked race course in your swimming pool.
Damn it, Roderick! I was expecting that link to be a cool story about your opium-flinging relatives!That looks like an improvised, inexpensive device to signal a location to someone. Perhaps where to drop off the drugs. Long ago in my family history, one of my relatives threw cans of opium into yards that were marked with the secret code...
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by Jake Hertz
by Steve Arar