SpaceX's Red Dragon is a specially modified version of the company's Dragon space capsule; these modifications make it possible for the Red Dragon to land on Mars. The "red" part of the "Red Dragon" name likely derives from the fact that Mars is known as the red planet.
The Red Dragon is described as a "low-cost" way of returning soil samples from Mars' surface. As of 2015, the technology was projected to be operational in the 2020s, meaning that the potential success or failure of the mission remains to be seen. Because it is a private company, SpaceX's participation in a Mars mission would represent a shift in the way space exploration is carried out.