Thanks to the comments on Reddit, this was identified as a Koppie Foam Grasshopper (Dictyophorus spumans).
The red coloration is a warning sign that it's indeed poisonous, the result of consuming a steady diet of milkweed.
“The grasshoppers ingest these toxins which they exude in a foam from their thoracic joints for their own protection when threatened. Human and animal fatalities are known to have occurred from ingesting these grasshoppers.” — Kruger Park News
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