Someone who knows how to keep shit real. Not only are they pretty hot and tempting, but they are red in some way (hair, skin, etc.). It's not to be fucked with.
Yo here comes a Phat Red, you better hide your girl and tuck your chain in, he's a killa.
Dayum! where this playboy cop that outfit at? That must be a Phat Red, he's stuntin on these fools!