Yep, I have had some red bubble algae in my tanks before. Same as the green. Be very careful when removing so you don't rupture the bubbles or you will have them everywhere.
best to just syphon it out... some even add a small piece of pvc on the end of the hose, cut at a 45 degree angle so you can pick on it, I syphoned out the few bubbles I had & it went away, same principle are the green bubble algae.