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CSS

width: 500px;
height: 500px;
background:
  linear-gradient(rgba(218,1,1,1), rgba(218,1,1,1)) 185px 384px / 127px 80px no-repeat no-repeat, /* Red Cutout */
  radial-gradient(ellipse at 50% 77%, rgba(218,1,1,1) 64%, rgba(218,1,1,0) 65%) 131px 103px / 105px 412px no-repeat no-repeat, /* Red Cutout */
  radial-gradient(ellipse at 50% 77%, rgba(218,1,1,1) 64%, rgba(218,1,1,0) 65%) 263px 103px / 105px 412px no-repeat no-repeat, /* Red Cutout */
  radial-gradient(ellipse at 50% 84%, rgba(255,190,5,1) 64%, rgba(255,190,5,0) 65%) 89px 73px / 193px 330px no-repeat no-repeat, /* Letter Left */
  radial-gradient(ellipse at 50% 84%, rgba(255,190,5,1) 64%, rgba(255,190,5,0) 65%) 219px 73px / 193px 330px no-repeat no-repeat, /* Letter Right */
  linear-gradient(rgba(218,1,1,1), rgba(218,1,1,1)) 0px 0px / 500px 500px no-repeat no-repeat; /* Background */