1. The call sign of Luke Skywalker's X-wing in the Death Star battle of the first Star Wars film
2. The sexual act of fisting a girl while on her period
1. accomplishing an impressive, improbable feat (most likely without the use of a computer targeting system)
2. performing the 'red five' sexual routine.
"Red five, standing by!"
--Quoted from Star Wars
"He totally just red fived that beer pong shot! He made it from across the room! It was one in a million!"
"Damn, just red fived my girlfriend last night, and now I've got all this dried blood under my fingernails. Gross!"
(noun) A vessel of chief importance, especially for a key purpose.
"Red five" was Luke Skywalker's vehicle during the final Death Star scene in Star Wars.
"Hey baby, my red five's parked out back, if you want to take a ride."
"Vegetables are the red five for delivering valuable enzyemes and essential nutrients into your body."
"Red Five standing by."
"This is Red Five. I'm going in!"