A red bag closed with a drawstring.
drawstring definition by Webster's New World
Webster's New World College Dictionary Copyright © 2010 by Wiley Publishing, Inc., Cleveland, Ohio. Used by arrangement with John Wiley & Sons, Inc.
a string drawn through a hem, as in the waist of a garment or mouth of a bag, to tighten or close it by taking up the fullness
drawstring definition by American Heritage Dictionary
A cord or ribbon run through a hem or casing and pulled to tighten or close an opening.