J J Abrams would be proud. That's an excellent example of lens flare, and happens when a point-source of light reflects off both surfaces of the lens. The pink coloration is the anti-reflective coating that is designed to minimize (but cannot possibly eliminate) this sort of artifact.
The only way to eliminate it is to set your shots up so you don't have point-sources pointing directly at the lens, and even if you have one coming in from an angle and visible in the photo you'll get the same effect, except laterally across the photo. A really high quality and large lens like an SLR might show it as a series of multiple dots instead of a single blurry smear. A polarized lens might eliminate it if you manually align the polarization correctly with the light source so as to reflect the light away from the rest of the lens. You won't find any such equipment on even a dedicated snapshot camera, and on a phone.. fuhgeddaboudit.
See the contest "Purple Haze" from a little while back for some really good examples - by the way, your photo would have qualified. It's well-composed, shows off lens flare nicely, shows excellent symmetry and consistency, and is beautiful in its own way. It also shows off how good the lens is, because with a bad lens you'd never have that level of symmetry.
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