The Parachute Regiment is the newest regiment of the British Army, unless you count the SAS. (And some boring stuff like the amagumation of the RACC and RAOC into one entity like the RLC.
The Parachute Regiment was formed during the 2nd World War, and its role was to put highly trained, motivated and aggresive troops behind enemy lines to cause much confusion and chaos.
The Para's (as they are more popularly known) continue a high level of aggresive training today, and, for an airmobile force, the are extremely heavily armed, and provided for. I am proud to serve with them.
Reguarded as one of the best quotes about the parachute regiment was spoken by Churchill (I think) "What Manner of Man are these who wear the maroon beret!"