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Pennisetum setaceum fountain grass can be found in several different colors.  The red fountain grass pictured is widely used for obvious reasons.  Red fountain grass is a tender grass, which gives it its curvature in the blades.
Red Fountain Grass, Pennisetum setaceum 'Rubrum'

Alex Driscoll
Certified Arborist #1249A
Plant Guide / Ornamental Grasses / Red Fountain Grass