I recently discovered mofx's superb model of traffic lights (a staff pick, here on Blend Swap), but at roughly 500,000 verts per light, I wasn't sure if they would ever get used. I have, of course, effectively destroyed the original model, but I hope I have kept its heart intact. And now there are only about 1,200 verts per light.

Oh, and by the way, I have included some textures for the lights, both on and off. (The textures are based on "stop light" and "turn signal" textures. "Open Source", they have been heavily modified, but alas, I've lost the original creator's name.)

Hope you enjoy! Peace.