The outsides of my pinky toes are turning red/purple and one has peeling skin.

Athletes foot: Sounds like you have a fungal infection called Athletes foot. Try some over the counter athletes foot cream as directed. If it doesn't get better in a week or if you have diabetes then you should see a health care professional for evaluation. Could also be from too tight shoes. Wear sandals for a while instead.

Frictional.: Athlete's foot infection usually doesn't involve the outside of the little toe . The bottom and the space between the 4th and 5th is typically involved and it usually itches. You have no description of an itch. The redness of both toes is typical of shoe pressure to the sides of the little toe. Increased arteriole flow for red and secondary venous sluggishness for purple. Check your shoes for fit.