When something is too insignificant to warrant an explanation or reason behind it. Also more generally used to describe people, places, or things that don't matter or are unknown, especially in comparison to something more popular or significant. Derived from articles on Wikipedia that are in red because no one has cared to write an article for them.
Example 1
Person 1: "Samuel L Jackson has been in a lot of movies."
Person 2: "Yeah, but most of them are Wiki Red."
Example 2
Person 1: "Dude, remember Charles from Kindergarten, I saw him at the bar last night, he's a pilot now!"
Person 2: "Charles? Who cares about Wiki Red ass Charles, I just hit the damn lottery!"
Example 3
Person 1: "Meh, did you hear about the inside deal Wall Street execs are making with Lobbyist in the Senate?"
A sexual maneuver in which requires a team of seven men and one female. The female proceeds to bend over on the bed while the men race around the room. One at a time, the men attempt to run at full speed and land their penis inside of the woman's vagina (Not unlike the land shark). The first man to successfully land inside of the woman's vagina then yells "Red Five standing by!" While the rest of the men look on with blue balls.
Man: Hey, I was thinking about having the guys over. We could mix things up, you know? We could try The Red Squadron?
Wife: You know that's unfair. Tom is an experienced marksman. He'd have you beat in an instant, and I don't need his micropenis inside of me.
In terms of gaming, when said, it means that an adult or guardian is in the immediate vicinity and all foul talk should be on hold until further notice.
When a group of guys or girls (Not both at the same time) go all the way with each other in a dark room with red lighting. There is usually leather outfits involved with the sexual play.
Hey Micheal, bring the red satan light light for the code red party.