The red envelope, or hong bao as it is called in Chinese, is generally understood to be some money wrapped in red. Its origin dates back to ancient times. Another name is ya sui qian or "money to suppress the demon." Legend has it that on New Year's Eve, a demon called Sui would come and pat children's heads with his evil touch while they slept. One couple gave their child a coin to play with. When he fell asleep, they placed the coin next to the pillow. At midnight, when Sui reached for the child, the coin flashed in the darkness and scared him away.