The challenge coin has an inner circle with a plain rim around it. In this circle is portrayed a devil dropping in a parachute with a grenade in one hand and a rifle in the other hand. The devil has been colored red with black hair, beard and belt. His horns, parachute, shoes and grenade are colored white. His rifle is colored white and black.

The legend along the upper edge of the medal says "508^TH PARACHUTE INFANTRY". Along the lower edge of the medal it says "WW-II", in quotes "RED DEVIL'S" and "20 OCT, 1942". The background of the legends is colored black. The coin has a smooth plain raised edge, and a plain and smooth background.

Horizontally across the reverse of the coin is a rasied rectangle where the name of the recipient can be engraved. Above this rectangle is the unit crest of the 508th Parachute Infantry Regiments. This consists of a shield with a diagonal bar going across from the lower right to the upper left. On the bar is a leopard. Below the shield is a banner with the motto "FURY FROM THE SKY". Below the rectangle is a parachute with feathered wings. This is the badge of a Parchutist.

Along the upper edge of the medal it says "VIETNAM" to the left of the crest, and "PANAMA" to the right. The coin has a smooth plain raised edge, and a plain and smooth background.

The 508th Parachute Infantry Regiment was activated on October 20, 1942 at Camp Blanding, Florida. At the time of Operation Just Cause, the 1st Battalion was part of the 193rd Infantry Brigade. Companies A and B formed the core of Task Force Red Devil. They flew in by helicopter from Howard AFB and assaulted and seized Fort Amador from the PDF. They were the first unit to engage the PDF in Operation Just Cause. Company C was part of Task Force Gator which assaulted La Commandancia in some of the most fierce fighting of Operation Just Cause. PFC Vance Coats and Sergeant Michael DeBlois of Company C died during this engagement.