Look at this beautiful little animal, or is it a spider

The Peacock Spider
 
It is a species of jumping spider.
The red, blue and black colored males have flap-like extensions of the abdomen with white hairs that can be folded down. They are used for display during mating: the male raises his abdomen, then expands and raises the flaps so that the abdomen forms a white-fringed, circular field of color
YouTube : Peacock Spider