Okay this is kinda cheasy, but it does work pretty good and it is cheap. Basically to create your home party laser light show you will need to do the following:
Get a laser pointer. the keychain kind you used to piss people off with at the movies.
Break a CD that you don’t like (read: kenny g) and get a nice little triangle piece out of it.
Bust out the bass. Whether it be your living room or 1988 honda accord with 12”s in the trunk, you’ll need a subwoofer with the speaker exposed.
You can check out the video of it in action here.