I have a small reddish dot right below the head of my penis to me it looks kind of like a small blood vessel it stands out from the rest of my skin ?

Just watch & see...: Without a direct look at, it is hard to tell what it may be although clinically it may represent a varix (tiny benign venous new growth), which is common and benign with no practical need for active care although very occasionally it may bleed. So, it would be most reasonable to just watch, wait, and see how it may change and evolve.