There are many different ways to make the red chili oil with different spices, tube onions etc. I feel that as long as you got the right chili (spicy, red and fragrant) and the right type of oil (Sichuan people use non-refined rapeseed oil), you will make very tasty chili oil.
With the chili, you probably need to experiment a bit with whatever you can find in your country. If you are in China, go for some Er Jing Tiao chili – it has great red colour and very rich fragrant.
Hope you’ll enjoy it!