A top: This appears to be a long-sleeved top with a half-zip closure and a funnel neck, and possibly a drawstring at the hem.
Matching trousers: These are wide-leg trousers, likely with an elasticated waistband, and a stripe detail down the side of each leg.
"Downtime lounge suit" indicates that it's designed for comfort and relaxation at home, though it might also be suitable for casual outings. The "red" color is clearly visible in the image.
