Red wasps are called... Red Wasps! If you want to get technical, there are two types, and their scientific names are Polistes carolina and Polistes perplexus.
It's possible it's a red Paper Wasp. They sort of look like the usual yellow and black wasps, but are a bit bigger. They aren't all that aggressive but will sting if threatened. They tend to build large nests that look like they're made of paper tubes.
