Looks like a skin infection to me...not so uncommon. See your Vet for eval and likely get Cephalexin or similar to knock it out. Nothing to be too concerned about at this point.
It could certainly be ringworm, which is a fungal infection, but we see Staph more than ringworm 100 to 1.
Hopefully, it's not ringworm, which I believe is contagious to humans and requires a bit more effort to overcome. Topical and oral medication may be necessary.