A play on the rhyme "Red sky at night", this is an excerpt of the entire rhyme;
"Red eye at night,
Stoners delight.
Red eye in the morning,
Stoners warning."
The rhyme refers to marijuana smoking, which can cause a users eyes to become bloodshot and red, and often being a telltale sign of somebody being stoned.
"Red eye at night,
Stoners delight.
Red eye in the morning,
Stoners warning."