I think you guys are reading it wrong. I see the red as the upper inside of the mouth (head thrown back, howling), and that yellow above is the eye.
As for crits, mine'll be pretty weak, but I'll try. I think the main thing detracting from this is the harsh, but incomplete, dark outlines. It makes it look jaggy, and a bit messy. Some of the forms could use some work, too. The closer leg, for example, is skinnier than the far one, and the left arm looks a bit rubbery (no defined elbow, kind of just bend into that rounded shape), etc.
I think I see where this is going, and I think it has potential (the colours are good for a goblin, the design in general is pretty cool), it just needs some polishing.