Prosapia bicincta (Two-Lined Spittlebug).
Size: approx. 10 mm. Photo: 05/23/12, 10 pm.

Two-Lined Spittlebugs (Prosapia bicincta) have two characteristic red or orange lines crossing their wings. Also their eyes are red. Nymphs of this species are covered by a foamy secretion product ("spittle"). They feed on grasses and possibly also corn. If threatened, adults can release a smelly substance.  
bug guide:
Texas A&M: