Altocumulus disposed in parallel rows, resembling with the water waves, so they were called billow or wave clouds (ondulatus lat.). Actually, the wind broke the initially compact cloud and has split it into multiple layers. The reddish color is given by the sundown.
The picture was taken using a Nikon D40X camera with Nikon 55-200mm VR AF-S f/4-5.6G ED lens and these settings: exposure time – 1/160 seconds, focal length – 200mm, ISO – 400, F- number – 5,6.