The above visual references this by having Ash with the red hat and Goh wearing the blue hat.
He also runs the YouTube channel about Japan stuff called TheDoctorDazza, tweets at @DoctorDazza, and posts photos of his travels on Instagram.
This legend also inspired Magikarp in the Pokémon video games, which evolves into the (non-typed) dragon Pokémon Gyarados, so it’s fun that the above visual combines the two legends into one!