This is a very basic circuit for flashing one or more LEDS and also to alternately flash one or more LEDs.
It uses a 555 timer setup as an astable multivibrator with a variable frequency.
With the preset at its max. the flashing rate of the LED is about 1/2 a second. It can be increased by increasing the value of the capacitor from 10uF to a higher value. For example if it is increased to 22uF the flashing rate becomes 1 second.
There is also provision to convert it into an alternating flasher. You just have to connect a LED and a 330ohm as shown in Fig.2 to the points X and Y of Fig.1. Then both the LEDs flash alternately.
