You can plan a party around a color! When dealing with a bold color - like red - keep a neutral background, like white, to let the color shine! If desired, you can add another contrasting color, like turquoise, to play along!
As seen in this pic, Use clusters of red in different textures and objects all in the same family of red to really give a dramatic statement! Clustering always has more impact than putting one here and there throughout the space! Pic Source
For a low cost, beautiful option, think food! These cranberry centerpieces would be perfect for this theme! Also, think apples, radishes, beets, rhubarb, strawberries and cherries as decorations, not just food! Pic Source
Look for objects that are of different materials, textures and shades to support your color theme! Can't find the right items? Spray paint baby! Flea markets and second hand shops can be so successful if you look past condition and color and think, what can I paint/fix? Pic Source
Don't forget patterns!!! Look for textiles with a great bold pattern to draw in your color palette! It can be a tablecloth, napkin, photo backdrop, favor bags, etc. Can't find the perfect pattern? Stencil or stamp! Pic Source
You have to serve great drinks! You can either do drinks in your party colors, or tie it in through rim sugar, fruit on skewers, drink umbrellas or straws/straw flags! So many choices! Pic Soure and recipes - drink 1, drink 2
You can't have a Red themed party without red velvet cake! Desserts are always a place to run WILD with your theme! Set up a whole dessert table with red cupcakes, red candies, cherry pie, etc. Also tie in desserts with colored papers, ribbon, sprinkles, serving dishes, etc. So if your favorite dessert isn't the right color, don't fret! Pic Source