Thanks for your question. The small red dots that you see in your penis can be just a normal skin variation or mild irritation of the skin. It can also be warts that are caused by a virus called human papillomavirus. It is important for the doctor or GP to see your skin to make a better diagnosis of the situation. Warts sometimes will grow and if it is just irritation of the skin then It will get healed in some few weeks. If it is a chronic skin condition then it may persist, or come and go without any proper reason. Anyway it is better you show it to a dermatologist who can clear off your doubts.