Traditionally, the Chinese red envelope holds lucky coins often called I ching coins or small precious gifts for gift giving. The red envelope is given to bring good luck, prosperity and happiness to the recipient. Red is the symbol of happiness and ultimate joy, thus the color red is used for all celebrations including weddings and Chinese new year.
You can buy your authentic Chinese red envelopes here, or you can give a gift subscription to Netflix :).
For more about the Chinese calendar, and the New Year celebration (Spring Festival), visit the China Page.