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1.
Red envelopes are often presented at social and family gatherings such as Chinese weddings or on holidays such as Chinese New Year. The red color of the envelope symbolizes good luck.

The money amount contained usually begins with an even digit (traditionally mostly anything involving the number 8), as odd numbered money gifts are associated with funerals. At weddings, the amount offered is usually intended to cover the cost of the attendees as well as help the newly married couple.

During Chinese New Year, red envelopes are typically given to the unmarried by the married, regardless of age.

From the old saying goes, the money in the red envelopes are not suppose to be open for usage until Chinese New Year is over, else bad luck befall on you for the whole year.
DUDE! I just got almost 500 dollars in red envelopes on chinese new years!!!! I'm going on a shopping spree tonight. (:
by amachi February 15, 2008
 
2.
get a movie in the mail from netflix
John Doe: what did you get in the mail?

Jane Doe: red envelope.

John Doe: what movie?

Jane Doe: only the greatest movie of all time, Ferris Bueller's Day Off.
by OhaiNoName March 05, 2011