I just bought a dryer, thinking that I had a dryer outlet, only to realize that I don't. I bought a 3 prong plug, for a normal wall socket (and I know that if it works at all, it will not be that efficent) and when I went to strip the wires on the plug, I found out that there where 4 wires in the dryer plug (red, white, black, and green). I was wondering if anyone could help me out as to what wires go where in the 110 plug (it has a green, silver, and gold spot for wires). Any help would be appreciated. Thanks

I would't advise that you put a 120 volt plug on a dryer. Why can't you return the plug and get the right one?

Attempting that will be a "Shocking" and or "Firey".

I hope you didn't give too much for the dryer if you continue in that direction you WILL ruin it.

First, breakers off, and test for no power (you have a tester?)
Do you have a dedicated 220v plug for the dryer? If not, you cannot convert to a standard 120v appliance cord and make the dryer work properly. Lowe's or Home Depot or some such would sell the correct surface mount receptacle for this, as well as the corresponding 6' power cord to plug into it.
The black and red wires are each 110/120v legs of a three-phase circuit, the white is a neutral, and the green should be a ground, HOWEVER, you could KILL yourself or at the least cause a huge electrical short if you attempt to improperly wire such voltage. Hopefully in the last couple of days you have either gotten good advice or engaged professional help. Good luck.

Since most electric dryers need a 30 amp 120/240 volt circuit, you need to install a complete new 30 amp circuit, with a 2 pole 30 amp circuit breaker, #10 cable with 4 wires, and the 30 amp 4 wire receptacle.

Any attempt to use any existing 120 volt outlet or circuit will not work, and will cause serious problems if you do manage to connect somehow.

I agree, I have never seen a dryer that can be changed from 230 volts to 120 volts just by replacing the plug. There should be a tag on the dryer indicating what the correct voltage, amperage and/or wattage is for your dryer. Injury and fire can occur if not properly connected.