The lanterne rouge is the final rider in the general standings of stage races such as the Tour de France. The name is derived from the red light that was previously held at the end of the rear of a train.
Whereas it is perhaps not very dignified, to finish last in a Grand Tour is an achievement of resilience and determination. Indeed, lanterne rouge riders would commonly find fans and invitations to race in after-Tour criterium and other events. To retain the lanterne rouge position requires fighting through the mountains and time reductions during the event, so it is less degrading than it is symbolic.