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Like Digital Mag said, Toyota uses a red coolant. So my guess is that it's a coolant leak. Does it smell kinda sweet, like antifreeze does? If it is coolant, could be the waterpump, hoses, radiator, etc. Go underneath and check it out; see if you can figure out where it's dripping from.
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1992 Camry LE, V6 (3VZ-FE), ABS brakes, 330k miles, dark emerald pearl, owned since new.
1996 Avalon XLS, ABS brakes, moonroof, white, acquired w/ 139k miles, now at 261k.
2001 Yamaha FZ1, Ivan's jet kit, resprung all around, Ohlins in the rear, Race Tech cartridge emulators in the forks, 45k miles.
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