In Tibetan Buddhism, Amitabha Buddha is red, red being the colour of compassion, love and energy. He is said to help people with issues of attachment, and is associated with gentleness and openness.
You can read much more about Amitabha Buddha here.
A thangka is a Tibetan Buddhist painting on cotton or silk (usually depicting a Buddhist deity, scene, or mandala) which is commonly used a meditation tool. You can find more info on thangkas here.
Approximately 3' x 2'