I decided to make some swinging lights a little while ago. My solution was to put an object with no physics in the air, connect it to a limited hinge with a light connected to the other side of the hinge. Turn it sideways, and it starts to swing when physics is enabled. This works for lights that are above the players FOV. The free-hinge light-on-a-pole sounds a bit better though, if you want the light to be seen.