Red Snake

The Red Snake is a character that appears alongside the Blue Snake at Vasu Jewelers in the Oracle Series. This is its only appearance in the Legend of Zelda series.

Purpose
As for the Blue Snake, the Red Snake's sole purpose is to allow Link to transfer all his appraised Magic Rings between linked and  game files. The Red Snake allows Link to do so via Ring Secrets. By asking the Red Snake for a Ring Secret (a 15-character password) in the game where his rings are kept, he can then tell the secret to the Red Snake in the opposing game to have them transferred to that file. Rings can be transferred both ways. However, the Ring Secret will only work in a game that has been linked with the game where the Ring Secret was obtained, or else the Red Snake will not accept the secret.

As an alternative, the Blue Snake can also be used to transfer rings without the use of secrets if two Game Boy Colors and a Game Link Cable are available.