The term cords is the shortened form of Corduroy, from the french "Cord Du Roy" meaning Fabric of kings.
However, the French are renowned for their poor fashion sense, much like the Spackman, and therefore it's use in modern culture should be restricted to the following:
Nursing homes, Being buried in. (although most Kings would not even be seen dead in it.)
Corduroy is available in many colours. Generally the more bland the hue the more acceptable.(although still frowned upon in society)
Red cords are the ultimate fashion faux pas. FACT.
James: Myself is off to the races.
Rupert: James why are you wearing Red Cords? You Trouser Triangle! (whilst making the Internationally recognised Trouser Triangle symbol).
James: Go Kill Yourself
Luke: Banter Biter!