Pain on the outside of my foot up near my pinky toe. almost like an outer bunion. little knob there & sharp pain to the touch. what could this be?

Bunionette: Sounds like you have a prominent distal end of your 5 th metatarsal . This could be a " bunionette" . If it is painful or bothers u w/ shoe wear see an ors who has specialty training in foot and ankle surgery. Sometime pads and shoe modifications will be all that u need. Occasionally surgery will be required if no improvement w/ above. Good luck!

Tailor's Bunion: Basically this sounds like a tailor's bunion or 'bunionette.' you can stretch your shoes, wear paddings over it, take pills to mask the pain, or have it surgically corrected. See a podiatrist for x-rays and details.