Red Corvette
A euphemism for a very small penis.
Johnny spends a lot of time polishing his red Corvette.
Little Red Corvette
A song by Prince which is misunderstood as car, but is actually talking about a vagina. Was a number one hit in the United States.
"Do you know any number one songs Prince had?" "Yeah, Little Red Corvette."
red Corvette
An idiom is used to refer to a dream that may or may not be attainable.
Going out with her is like a red Corvette!