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1.
A creepy male who hits on young girls or creepily makes contact with younger girls.
"that guy was staring at you for so long, he's SUCH a red lantern"
by jb71197 July 28, 2012
 
2.
When a male stretches his scrotum over a light to create the appearance of a chinese red lantern
Mikes accidentally burned his scrotum from making a red lantern
by poopersc00per September 24, 2009