While this may look like a green version of the eye of Sauron, this Spitzer Space Telescope image shows infrared radiation from the Helix Nebula (NGC 7293). The nebula is 700 light years away, within the constellation Aquarius. The dust and gas gathered around the central white dwarf is two light years in diameter.
The nebula is considered an excellent example of a planetary nebula
Image credit: NASA, JPL-Caltech, Kate Su (Steward Obs, U. Arizona) et al.