What is the best way to exercise my inner thighs and arm fat?

There's no such . Thing as natural spot fat loss. You need to lose weight in general ; a certain % will be arm ; thigh fat. Eat healthfully ; be physically active. Calories burned must > calories consumed. You can tone your inner thighs with extended leg lifts, inner thigh press, standing thigh press, deep squat, wall squat, lunge, thigh ball squeeze, walking, swimming, biking ; in-line skating. You can tone arms >.
Cardio Mix. If you adipose tissue that you'd like to lose then consider an increase in cardio and a balanced diet. However, do not always do the same exercise or you will increase your risks for stress injuries. Mix things up with running, biking, swimming, or circuit training. Ultimately you need to burn more than you consume.