Can somebody please explane the rule on red and yellow posts?

Red Staked Hazards are Lateral Hazards, Yellow Staked Hazards are known just as Hazards.

If your ball enters a Yellow Staked Hazard you must drop the ball on the line the ball entered the hazard no nearer the hole as far back as the player likes. Or play another ball from the site of the last shot.

If your ball enters a Red Staked Hazard you can drop the ball within two clubs length of point nearest where the ball entered the hazard or on the opposite side of the hazard equal distance from the hole.

Sorted!!!!!!

There's a third type of colour hazard, known as a Wayne Hazard, which is when he goes out in his canary shirt and scarlet trousers!

Generally Chris is right, but regarding the Yellow Staked Hazard, you drop as far back as the player likes but along a line between the point of entry to the hazard and the pin and NOT back from where the ball has been struck. This is to ensure that you have to play over the hazard with your next shot if you are to get to the green. 

Correct, Kevin, this rule is always one that causes problems on the course when it is pointed out to them.

But what about the option of playing out of the hazard?...As long as you don't ground your club!!

You are right David - you can play out of the hazard without grounding your club, but it would have to be a goodish lie to consider taking it on.

My attire would frighten it out of the hazard!!!

Can't wait to see how you fare in the Algarve Stuart

By the way Graham it's "explain"

As long as I bring a good strong pair of shades to guard against the sun and highly reflective colour fabrics I should be fine

Wayne 'xplane' your new colour fabrics for Algarve...........

VERY dark shades should be the first thing anyone should pack that are going there

Is it ok to move both red and yellow posts to play a shot?

Both red and yellow stakes marking the hazard are classed as 'obstructions' which means they can be removed, without penalty

Why don't YOU wear dark muted shades and save the rest of us all the hassle?   

Playing out of a hazard is perfectly fine, as long as you don't ground your club before making a swing at the ball. We all saw Justin Rose stand in the water and use his club to balance himself, thinking he'd just incurred a penalty, however he didn't, as the rules state he can use the club to steady himself if he is about to fall, and doesn't improve his lie.

I played one out of a stream in a matchplay quarter final once, and stuffed it 2' from the hole. The ball was sat on some gravel, only about 1/4 under the water, so it was worth the rist. Halved the hole, and lost on the 18th. Great shot, gutted about the final result.