The Red Riding Hood is a red cape that Little Red Riding Hood wears all the time. It was made by her Granny, and it's one of the 4 object needed to undo the Witch's curse. It is loosely based on the red cape from the tale Little Red Riding Hood. It appears in the musical film Into the Woods.
The hood is one of the ingredients The Baker and his wife seek, to undo the Witch's curse. She gives it to the Baker, after he saves her from the wolf, replacing it with a new fur coat, her Grandmother makes, from the Wolf.