Meaning
Beyond the colour, 'red' describes a light-brown or fair-skinned Black person — a 'red' man or a 'red gyal'. It reflects Jamaica's colour consciousness, a legacy of slavery-era colourism; it can be neutrally descriptive, admiring, or loaded, depending on tone. 'Red' can also mean drunk or high ('yeye red') and, in reggae, the Rasta colour red.
Examples
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Him a red man wid brown eye.
He's a light-skinned man with brown eyes.
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Di red gyal from up di road.
The fair-skinned girl from up the road.
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Him yeye red, him blaze too much.
His eyes are red, he smoked too much.
Origin
A colour-consciousness use of 'red' for light-brown skin, rooted in colonial/slavery-era colourism; also 'red eye' (high/drunk) and the Rasta colour.
How it’s used
Chiefly light/fair skin (colourism-loaded, tone-dependent); also drunk/high ('yeye red'), and the Rasta red. Compare 'brownin', 'dundus'.