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.
--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!"
"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!"