Red rag in my pocket same color my 'Vette is

from Gucci Mane (Ft. OJ Da Juiceman) – Make The Trap Say Aye Lyrics on Rap Genius

Meaning

Members of the Blood street gang show their affiliation by hanging a red bandana (“flag”) out their right pocket

Thankfully, Gucci owns a red Corvette. If it had been blue, that just would have been awkward

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