Mmmm, sounds what my DD used to do - I found that a consistent no-nonsense "is anything wrong? No, okay well it's night time, back to bed you can come out when the sun's up" worked best. I'd walk (frog-march) her back to her room, lay her down and tuck her in, then leave. Wouldn't stay with her till she was asleep or anything, and would reinforce that even if she's not asleep, dark-time means in bed and quiet time.

Took a little while of jack in the box, but she soon worked out it wasn't worth it as there was never anything interesting going on so she may as well stay in bed.