Set in the fictional town of Keening, Massachusetts, the movie follows Karen O'Hara (Courtney Halverson), a young woman who is largely unaware of the town's true bloody past. About sixty-six years ago, a horrific massacre devastated the town, and since that time the town has decided to forgo any St. Patrick's Day festivities. The town managed to temporarily rid themselves of the killer, a bloodthirsty leprechaun, by sending it to another dimension by way of an old book. However, Karen accidentally sets the monster free one day while she is out hunting. The leprechaun immediately sets about killing several people, but Karen's father, Sheriff Conor O'Hara (Billy Zane), is unwilling to believe Pop O'Hara's (William Devane) claims that the murders are perpetuated by a supposedly mythical being.
Daywalt began working on Red Clover while developing another project with After Dark, who had asked him to direct for them after viewing some of his other work. During the development of the film, writer Ferrante wanted to make the leprechaun character "creepy and organic" and wanted to avoid the typical clothing associated with St. Patrick’s Day. One of the weapons used in the film, a staff with four sharpened horseshoes on it, was developed after Ferrante joked that they could call the movie "Four-Leaf Cleaver". Filming took place in Baton Rouge, Louisiana.
Critical reception for Red Clover under its original name and its DVD release were mixed to negative. Comparisons were made to the Leprechaun film series and the movie's plot was one of the most commonly criticized elements of Red Clover. At the same time, several reviewers acknowledged that the film had some entertainment value as a B movie. Breitbart.com columnist Zachary Leeman panned the film overall, criticizing several elements including the design for the leprechaun. DVD Verdict gave a mixed review, stating that "this isn't as plainly awful as almost everything that airs on that network, but that doesn't mean it's very good, either". In contrast, the review from HorrorNews.net was largely positive, praising the movie's dialogue and acting.