Stir olive oil, tomato sauce, garlic, and red wine vinegar together in a large bowl. Season with basil, salt, and cayenne pepper.

Add shrimp to the bowl; stir until evenly coated. Cover and refrigerate for 30 minutes to 1 hour, stirring once or twice.

Preheat the grill to medium heat. Lightly oil the grate.

Thread shrimp onto skewers, piercing once near the tail and once near the head. Discard marinade.

Cook shrimp on the preheated grill until opaque, 2 to 3 minutes per side.

Serve hot and enjoy!