Quote Originally Posted by Macman View Post
MacLowlife, it's a Sergeant's sash. They're worn in the Commonwealth forces, are red, and denote Sergeants, Warrant Officers, etc. I've never worn one, so I'll leave it to someone else to give more detail.
The Australian Army Infantry Corps adopted the scarlet sash worn by warrant officers class two and senior NCOs from the British Army, which has been wearing it since the 17th century. Some were worn around the waist, whilst others were worn over the shoulder. The sashes were used as badges of rank. However, it is said that they also had a practical purpose, originally being used to drag the wounded from the battlefield. Legend also has it that because they became blood stained it was decided that they would be coloured scarlet so as to 'hide' the blood stains.

The British Regiments of Foot had officers wearing silken sashes over the left shoulder and senior NCOs wore worsted sashes over the right shoulder. Today in the Australian Army, general officers and officers holding certain appointments wear sashes around their waist when dressed in Ceremonial Dress. Infantry warrant officers class two, senior NCOs and senior cadets at the Royal Military College Duntroon , wear the scarlet sash when on parade, in mess dress and when carrying out regimental duties.

There are many tall stories told in messes about the scarlet sash and its cords (or tassels). Stories of the cords range from their representing British Army campaigns or Army line regiments to their use for counting casualties on the battlefield. None of these are true and are often used to leg-pull the newly promoted sergeant.

Source: http://www.defence.gov.au/ARMY/stayarmy/RAINF.asp