What is Sriracha Sauce?_ Although Sriracha sauce (a.k.a. "rooster sauce") has only been on the scene since the 1980s, it is quickly taking the culinary world by storm. Its flavor is unique, addictive, and wildly versatile. This bright red, multi-purpose hot sauce is made from red chili peppers, garlic, vinegar, salt, and sugar. The sauce is hot and tangy with just a hint of sweetness, which sets it apart from your garden variety hot sauces.