Colonial lighting that is appropriate for one of the many Colonial revival styles should be strongly considered. Regardless of the style of architecture you can rarely go wrong by choosing architectural elements in keeping with the given style. For example, would you put a modern contemporary light on a Colonial saltbox? I would certainly hope not. It would be like putting a mustache on the Mona Lisa. Not appropriate.
Colonial style lighting, historic perspective
There have been several revival periods for Colonial styling, most recently in the 1930s through 1960s. Clearly, in the early colonies electricity had not been discovered yet and so lights were not electrified. Exterior lanterns were lit by the friendly lamplighter while making his rounds. We don't light lanterns that way now, but you can certainly choose a fixture that has the same impression. And many people use flame shaped bulbs or even ones that flicker to simulate real flames (although they are usually very dim).
The most appropriate Colonial light fixtures are made with brass as the base metal. Not only does that meet historical authenticity standards, but brass is a non-ferrous metal and won't be rusting like a steel fixture would. When considering colonial style lighting it is a good idea to pay close attention to the light dimensions. In fact, it is a good idea to make a full size silhouette to hold in place and see if the size makes sense. Particularly motivated perons could consider even make a 3D box out of carboard for the same purpose. It is extremely important that colonial lighting is properly proportioned.