The correct spelling for the colorful natural phenomenon that occurs in the northern and southern hemispheres is "aurora borealis" or "aurora australis". Some people may mistakenly spell it as "polar lightses", which is incorrect. The correct pronunciation of "aurora borealis" is /əˈrɔːrə bɔːrɪˈeɪlɪs/ and "aurora australis" is /ɔːˈrɔːrə ɒːˈstreɪlɪs/. It is important to use the correct spelling and pronunciation to avoid confusion and ensure clear communication.