When I was about 22 weeks pregnant I noticed two red circles on each thigh. Worried that it may be ringworm, I bought a tube of Lotrimin and began applying it twice a day for weeks. The circles became larger and very itchy. I then decided to apply nail polish to the rings, this caused them to became very red, but a day later they turned a darker brown and the circles faded over the course of 2 months.
Now, at 39 weeks three red circles have appeared, although the edges are not thin like last time. They are thick raised circles which itch a lot. I saw a dermatologist who told me she didn't believe them to be fungal and to just wait and see what happens after I deliver. Well, I woke up a week later and found another red circle had appeared and the others have gotten much larger in size. They are about 2 inches in diameter.