Okay kiddo, so some people believe that there is a ghost called "lady in red." She is called that because she is said to be a woman who appears to people wearing a long red dress.
Now, some people think that this lady in red is a ghost who was a real person once. They believe that she died a long time ago and is now a spirit that haunts certain places.
Other people think that lady in red is just a made-up story, like a spooky legend that people tell each other to scare them.
Either way, some people say that if you see the lady in red, it means something bad might happen. But a lot of people don't believe in ghosts at all, so they don't think the lady in red is real.
Does that make sense, kiddo?