That's a fire extinguisher, part of a new product line called Orange Works at the Home Depot.
The chic yet functional product was designed by Peter Arnell, and Home Depot says:
"it hopes the fire extinguisher's design will induce homeowners to keep the product in an accessible place, so it will be useful in an emergency, unlike those extinguishers hidden in the closet."
Found at Everything and Nothing
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Hmm. I figured the point of a fire extinguisher being red was that it could be easily spotted in a moment of panic.
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