Parastatistics is an exotic type of exchange statistics beyond fermions and bosons. Paraparticles transform in higher dimensional representations of the exchange symmetry group, analogous to non-Abelian anyons, yet consistently defined in any dimension. Although paraparticles have long been proposed, they were widely believed to be physically equivalent to fermions or bosons. Nevertheless, a recent paper proposed a different theory, called
R-parastatistics, and demonstrated that nontrivial
R-paraparticles can emerge as quasiparticles in condensed matter systems, and are observably distinct from both fermions and bosons. This paper develops the theoretical foundation and several extensions of
R-parastatistics, with particular emphasis on its observable consequences. Central to this paper is a general theory of local observables extending the basic family introduced before. First, we define local observables that distinguish particle types. Second, we formulate local observables at special point defects that probe the internal indices of
R-paraparticles, crucial for observing
R-parastatistics and for the proposed applications in quantum information. Third, we introduce local observables that create or annihilate particle-antiparticle pairs, important for building a relativistic quantum field theory for
R-paraparticles. We further introduce generalized hidden symmetries that act on internal indices of
R-paraparticles while preserving the local observable algebra, providing a basis for proving local indistinguishability and for connecting to a categorical description of
R-paraparticles. This work sets a solid theoretical foundation for understanding the fundamental physical properties of
R-paraparticles and pave the way for finding them in nature.