The present invention relates to a novel energy saving decorative festive lamp that is ideally suited for use in clubs, restaurants, or decorative applications, where specialized lighting, such as rapid flashing or frequent starts, is required. It may be used with hanging chandeliers for a spectacular display of dazzling illumination sources or because of its low power consumption, may find application as a night-light or to illuminate hallways and stairwells. Each lamp consumes only one watt, is energy efficient and has a long-life, lasting up to 50,000 hours. The outer glass envelope covering the LED array is preferably transparent, whereas the LEDs are available in the following colors: red, blue, green, amber, and white. This energy saving lamp operates efficiently at 1 watt or less to produce an illuminance greater than 25,000 mcd from a string of 10 LEDs, or greater than 37,500 mcd from a string of 15 LEDs, when contained in a transparent cover.