Red headbands are the start of the quest to get FV Ringmail. You turn in either two or four to the guild leader in the rangers hut in FV. Then he gives you the next part, collecting four battlemaster wristbands for a piece of the dark-green ringmail. Not better AC than banded, but lighter and with other bonus factors.
These guys spawn close to the newbie area (sometimes in the Outrider 4 spawn) and are excellent experience for a group of level 5's. They drop a lore item, no drop spear, piercing weapon. Must be for a quest?