The Red Goddess is the Third Prophet of The Invisible God. Malkion is the Base, Hrestol is the Support and The Red Goddess is the third side of the Triangle of Law. When she went to where the Spike had been, into the Void outside of the World, she found the New Spike that was trying to create itself and she embraced it and spoke to the Invisible God. Malkion spoke to those who had no Law, Hrestol spoke to those who had the Law, The Red Goddess reaches out to those who need not obey the Law.
The Red Goddess is also a Chaotic Goddess. Once again, when in the Void between worlds, she met and conquered Primal Chaos, or perhaps a new manifestation.
She is of all the elements - In the Void she conquered the Young Elementals and made them her subcults. Thus she is mistress of the Dark, Water, Earth and Fire. Only eludes her as there is no Young Elemental of Storm.
She is a Sky Being, the granddaughter of either Yelm or Dayzatar (I cannot remember which).
She is an Earth Being, having taken the earth as her body.
She is a New Goddess, being born within Time, but is also part of the Compromise.
She has powers of Life and Death, Chaos and Law, Truth and Illusion.
Her magics embrace sorcery, spirit magic and divine magic. All may come to her and share in her glory.
She is the last Prophet or Incarnation of Rashoran.
She is an Incarnation of Yelm, especially in the form of her Son.
All who look at her may see what they wish to see reflected back at them. She is all things to all men. This is why she is powerful and why she will never be defeated, even if the Moon is torn from the Sky for She will simply turn another face and become something different.