Hi Drew,
Boss badges are only worn by the officers, the Blue one is worn on the Khaki peaked cap and the Red one on the No1 Blue dress cap.
When GE were formed they followed the dress of the Gurkha Infantry regiments as far as possible, as the infantry officers wore a cord boss, they followed suit.
No historical significance to the choice of colour as far as I am aware.
Regards
Steve M
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