The Talmud claims that the red heifer sacrifice was the only one of God's commands that King Solomon, the wisest man who ever lived, claimed he did not understand.
The Scarlet Colored Beast
I am not sure what the JWs teach about it, if anything, but here's what a lot of people believe.
According to Jewish sources no flawless red heifer has been born in Israel since the fall of Jerusalem in A. D. 70. One Jewish activist said "We have been waiting 2,000 years for a sign from God, and now He has provided us with a red heifer." The calf is thus viewed as a sign of the imminent coming of the Messiah and reestablishment of the Temple with its sacrificial system.
In the Mishnah, Tractate Parah, we learn that there have been a total of nine red cows in history. The first was under the supervision of Moses; the second was prepared by Ezra; two by Shimon Ha Tzaddik; Yochanan, the High Priest also sacrificed two; Eliehoenai, the son of Ha-Kof was the seventh. Hanamel, the Egyptian burned the eighth. The ninth Red Cow was sacrificed by Ishmael, son of Piabi. The tenth Red Heifer will be burned in the time of Mashiach.
A red heifer is probably as rare as a white elephant. White elephants were sacred to monarchs in Southeast Asia.
"Because the animals were considered sacred and laws protected them from labor, receiving a gift of a white elephant from a monarch was simultaneously both a blessing and a curse: a blessing because the animal was sacred and a sign of the monarch's favour, and a curse because the animal had to be retained and could not be put to much practical use, at least to offset the cost of maintaining it."
It was simply a gift to be enjoyed and appreciated.
Likewise, one of the prerequisites of the sacrificial red heifer is that it must have never worn a yoke and never done any labor.
A red heifer is very rare. It is a symbol for something else. The reason for burning this rare beautiful animal as a sacrifice is similar to the lawful protocol of last respects in burning a flag that has been desecrated. This sacrifice also represents destruction of what was once beautiful, rare and precious but has become vile and wasted. Not only is it no longer practical to continue maintaining it, it is so corrupt and polluted that it cannot be redeemed or brought back.
The scarlet colored beast with seven heads represents the planet earth and its seven continents.
It is scarlet colored because it has become a planet of world wide warfare and blood shed.
The Australian Aborigines use a lot of red in their art too.
Is that because red has mystical properties, or because red ochre is an easily obtainable colour for their artwork?
Personally, it is irrelevant to me, because I am not an Abo.
I am not a Jew either. I am a descendent of Nordic Gods/heroes. Why should Gods/traditions/folklore of any other culture be of interest to me?
What proves that "Your Dad is tougher than my Dad!"? .... that the religious writings/traditions of my ancestors are more, or less, valuable than those of your ancestors? .... or somebody else's ancestors?
Embrace the traditions and fables and Gods and heroes of your own ancestors. They are not provably better, or worse, than those your parents and priests import for you.