Red Ring Of Death Fix 2
The Xbox 360 Towel Trick
We wouldn't recommend this way of fixing red ring of death problem as it voids your Xbox 360 warranty.
A few videos have appeared on the Internet showing people fixing their Xbox 360 Red Ring of Death problem with a simple trick. The trick consists in "covering the Xbox 360 console in a few towels and turn it on for a period of about 20-25 minutes." After this you should "leave the console to cool for a while and then turn it back on."
In some cases, the Xbox 360 console seems to start up and work fine. This may seem to be a good fix, but most people report that this only works for about a week, before the console repeats the Red Ring of Death and sometimes permanently shuts down. Don't try this trick, as there's no point voiding any Microsoft warranty. Don't forget, every console now comes with the warranty.
For a video of the towel trick method of fixing Xbox 360, go to YouTube.com and look for it using the keyword "towel Xbox 360". You might as well look for the video on other services, but you'll find a lot on YouTube for sure.