Red Sunrise was a brief "what-if" story about the Soviets during the time of the original Watchmen. It hinged on the notion that the Russians successfully replicated Dr. Manhattan's Intrinsic Field Experiment, and created Dr. Kremlin, a superbeing with all of the same powers and abilities as Manhattan, but also with a fierce loyalty to the cause of Communism.
The story itself concerned not only with the rising tension between Russia and the US, but also on how the Russian people viewed their new superman, and how he changed the landscape of the Cold War. Aside from Dr. Manhattan and the Comedian, none of the original Watchmen appear in this story, but Dr. Kremlin's appearance inspires a number of other Russian parallels, such as Cossack-Owl, an ornithologist fascinated by owls and suspicious of what will become of the USSR with the advent of Kremlin. His furry hat, in particular, is popular amongst fans.
The story ends on an ambiguous note, as Kremlin and Manhattan both decide that their presence has caused too much paranoia, and they head off to other worlds. As with the original novel, it is hinted that Manhattan creates an alternate universe, while Dr. Kremlin seems to go back in time, creating a stable loop.
Despite the fact that it isn't canon, Red Sunrise is considered one of the most intriguing WatchmeX storylines ever written, and is a fan favorite.