Flashes and floaters occur when the gel-like fluid in the eye shrinks or thickens as part of the aging process. Floaters can appear as small shapes in your field of vision, such as specks, dots, circles, lines, or cobwebs. On the other hand, flashes may appear as flashing lights or lightning streaks in your field of vision. For the most part, flashes and floaters are not an issue. However, annual screenings are important to rule out certain medical conditions.