A redeco is a re-released version of an existing toy

Toy

A toy is any object that can be used for play. Toys are associated commonly with children and pets. Playing with toys is often thought to be an enjoyable means of training the young for life in human society. Different materials are used to make toys enjoyable and cuddly to both young and old...

 with a color scheme that is significantly different from the original release. Redecos normally include changes to the toy's paint application scheme, as opposed to a more straightforward repaint

Repaint

A repaint is a toy that was created entirely from a mold was previously available, however the colors of the plastic and/or the paint operations have been changed...

, which only alters the colors, not the ways in which they are applied to the toy. Redecos are an extremely popular way to create exclusive

Exclusive

Exclusive typically means not with other things or not including other things.The terms inclusive and exclusive are contrasting terms, and often appear in the same context to describe contrasting things.Exclusive may refer to:...

 toys, allowing the new toy to look drastically different from the original, sometimes representing a different character, entity or item, without having to pay for an entirely new mold

Mold

Molds are fungi that grow in the form of multicellular filaments called hyphae. Molds are not considered to be microbes but microscopic fungi that grow as single cells called yeasts...

.

Examples:

• In Transformers
  Transformers
  A transformer is a device that transfers electrical energy from one circuit to another by magnetic coupling.Transformer may also refer to:* ASUS Eee Pad Transformer, an Android 3.2 Honeycomb tablet computer manufacturer by Asus...
  
  , toys of Starscream
  Starscream (Transformers)
  Starscream is a fictional character in the Transformers franchise. He is one of the most prolific characters in the Transformers fictional work, appearing in almost all incarnations of the story. Starscream is usually portrayed with the same characterization...
  
   are often redecoed into Thundercracker
  Thundercracker
  Thundercracker is the name given to multiple fictional characters in the Transformers universes. Thundercracker is almost always depicted as a blue color Decepticon who turns into a jet fighter.-Transformers: Generation 1:...
  
   and/or Skywarp
  Skywarp
  Skywarp is the name of several fictional characters in the Transformers toy line. He is usually depicted as a black or purple Decepticon jet with teleportation powers.-Transformers: Generation 1:...
  
  . Similarly, toys of Optimus Prime
  Optimus Prime
  Optimus Prime is a fictional character from the Transformers franchise. Prime is the leader of the autobots, a faction of transforming robots from the planet Cybertron. The autobots are constantly waging war against a rival faction of transforming robots called Decepticons...
  
   are sometimes redecoed into Ultra Magnus or Nemesis Prime
  Nemesis Prime
  Nemesis Prime is the name of several fictional characters from the Transformers storyline. He is often depicted as an evil incarnation of Optimus Prime.-Transformers: Armada:...
  
  , and Megatron may be redecoed into Galvatron
  Galvatron
  Galvatron is the name of several fictional Transformers, most often the recreated version of Megatron, the Decepticon leader. He was voiced by Leonard Nimoy in the 1986 Transformers movie, and then by Frank Welker in season 3 and 4 of the animated television series. Since then, other Transformers...
  
  .
• Mighty Muggs
  Mighty Muggs
  Mighty Muggs are a vinyl–plastic collectible toy series made by Hasbro. The toys resemble super deformed versions of characters from the following franchises: Star Wars, Marvel Comics, Indiana Jones, G.I. Joe, and Transformers. There is a line of smaller figures, called Mini Muggs, as well as blank...
  
  all share essentially the same mold, with identity and characterization entirely provided only by the deco.