Historically, it's more than just cool --it's a real honour! The Queen's Body Guard of the Yeomen of the Guard are a bodyguard of the British Monarch. It is the oldest British military corps still in existence and was created by Henry VII in 1485. As a token of this venerability, the Yeomen still wear red and gold uniforms of Tudor style.
Coincidentally, Santa wears red, too, and he goes "Ho, ho, ho" -- but what do Yeomen say Dylan?
"Yo! Yo! Yo!", says he. "Merrrrrrrrry Chrismuss!"
Now who's the scaredy-cat?