Xbox 360
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The infamous Red LED lights that surround the 360's power button actually represent different problems depending on how many are alight. One red light meant a hardware failure. Two red lights signify overheating. Three red lights meant a general hardware failure, and four red lights meant and AV cable error. The notorious "Red Ring of Death" is actually, contrary to it's name, a 3-Light problem (General Hardware Failure).
Contributed by PirateGoofy
In 2008, an Xbox 360 console featuring Mother of Pearl engravings was given to South Korean president Lee Myung-bak from Bill Gates. The 100 consoles were made with designs hand-crafted by Korean company Gookbo. The designs of the console, entitled "Peace", represent patience and perseverance.
Contributed by KnowledgeBase
The U.S. Navy uses Kinect sensors for simulators in an effort to help prevent and teach sailors about harassment and sexual assault. The Navy had paid the animation company Organic Motion $83,000 to develop the software for the Kinect.
Contributed by KnowledgeBase
A 26 year old gamer named Josh Moore was suspended from Xbox Live for listing his hometown as "Fort Gay" in his profile. Xbox was unaware that Fort Gay is the name of a real town in West Virginia.

Josh Moore's account wasn't restored until Director of Policy and Enforcement for Xbox Live Stephen Toulouse intervened and revoked the suspension.
Contributed by Pogue-Mahone
The most expensive Xbox 360 Kinect sensor peripheral was inspired by pop singer Kylie Minogue and features over 6000 Swarovski crystals and worth $1,242 USD. Designed by PlayBling, it was given out as a prize as part of a promotion by Microsoft and Dance Central in celebration of Kylie Minogue's upcoming European tour.
Contributed by KnowledgeBase
During a 2005 interview with J. Allard (then the executive vice president of Microsoft), it was revealed that the Xbox 360 got the "360" part of its name because it reminds people of something positive in their lives. In response to survey responses, Allard said, "But they all connected with a theme -- they were all emotional, personal experiences that evoked joy."
Contributed by iiExaMplezZz