I don't know what the red things are. Other than that it does look something like bologna (aka baloney).
I'd call it a kind of Wurst, but that's probably because I've lived in Germany. I don't know exactly which one it is, though I've eaten it for breakfast many times.
"Lunchmeat" would be the catch-all term I would use.
Have a look at this please:
It would have been called "luncheon meat" when I was a kid (some had red bits, some didn't). I haven't heard that term for years though.
Remember - if you don't use correct capitalisation, punctuation and spacing, anything you write will be incorrect.