According to my Audubon Mushroom book, there is a "False Caesar's Mushroom" that looks exactly like your photo, and the Fly Agaric's description is that it is "blood red", also the stalks are white and have these pronounced rings. That doesn't mean you should take any chances with mushrooms!
Here's something from my book:
"There are some rules of thumb that can be helpful to determine if a mushroom is poisonous or not:
1)do not eat any Amantina species and be especially careful in identifying Amanita look-alikes or any other white mushroom.
2)avoid any little brown mushrooms (LBM's) and large brown mushrooms, especially those with pinkish, brownish, purple-brown, or blackish gills
3)avoid false morels."
Amanitin, the poison is the Fly Agaric mushroom, is pretty deadly...for a person. I think it's best to avoid them all!
According to my book, the giant puff balls are choice for eating, but I would personally rather travel to the store to get my edible fungus!