A couple months ago I was on my period and when I pulled the tampon out there was flesh on it, the flesh was pink and red all over. Whats it mean?

Endometrial tissue. This is probably normal "fallout" of a piece of endometrial tissue. Make sure you have your annual gyn exam and pap smears, to rule out other causes such as cervical cancer.
Probably ok. This has happened to most women on occasion. There is sometimes some tissue that sheds along with the uterine lining and can be noticed on tampons. However, if you have significant pain that is recurrent or persistent, fever, abnormal cycles, or discharge, you should certainly be evaluated.