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Definitions by Commander Cool aka Me

Freshman Red 

When you get drunk (or just ED) and your penis stops working just before you're about to have sex with a chick. This causes great embarrassment and you will forever be known as the guy who can't get it up.
Evan: Freshman Red exists--it's a real thing.
Drew: Freshman Red does not exist, you just have ED.
Evan: Sad face.