So imagine you and your friend are trying to decide what games to play outside. Your friend really wants to play tag, but you don't really like tag because it's too rough. Red Tory is kind of like that. It's a term used in politics to describe a person or group of people who have some ideas like a conservative (which means they like things the way they are and don't want to change them), but also have some ideas like a liberal (which means they want to help people who are struggling).
So a Red Tory might want to keep things the way they are when it comes to important things like the way the government is set up or the economy, but they also believe that it's important for the government to help certain groups of people who might not be doing as well, like elderly folks or people who are unemployed. It's kind of like wanting to play outside but wanting to play a game that's not too rough. Red Tory is a way to describe people who have some conservative ideas and some liberal ideas all mixed together.