This object is a grooved 90° elbow pipe fitting, which is commonly used in fire protection systems. The red color is a typical indicator for fire sprinkler or fire service piping. The markings on the fitting indicate the manufacturer's code, "XGQTOG," and the dimensions, "114.3-2.5," which correspond to a nominal pipe size with an outer diameter of 114.3 mm and a wall thickness of 2.5 mm.