What kind of ant is red fuzzy type with black stripe around its body?

A velvet ant?

Assuming that it IS a velvet ant, be careful because they can inflict really, really painful stings (since they're actually wasps, not ants, as raisingale said). I think that's where they get their other common name, "cow killers". I've never been stung by one, but it must hurt a lot if it's bad enough to joke that it could kill a cow.