crazy coolant

i have a confusing issue here. im planning on rebuilding my old engine, so i drained all the antifreeze out and noticed some red colored liquid mixed in with the normal green colored fluid. is this rust deposits or some other thing? if its rust then i might just buy an autozone dime-a-dozen 350 for about a grand. all i remember that seemed weird before was it seemed to either leak the coolant somewhere or else it was getting thru one of the head gaskets or something because i was always having to refill it again every few days with a pop bottle or two of water.

My 97 is also leaking coolant from somwhere, it just drips slowly, but it sure adds up. I think my water pump is trying to die?

now that i think about it, my water pump was also about to go out as it was leaking really bad from under that shaft that the fan mounts to. i bet it just poured out of there like niagra falls when i was on the interstate lol

My guess is that red liquid is regular old motor oil that turned color in the anti-freeze.

would that be caused my something like a bad head gasket or something? i cant think of another possibility. sounds very likely tho because i bet both my head gaskets were leaky