Hi
It is difficult to diagnose a skin condition without examination. Since you have high cholesterol, it could be a cholesterol deposit called Xanthoma. “A xanthoma looks like a sore or bump under the skin. It's usually flat, soft to the touch, and yellow in color. It has sharp, distinct edges.” However these are usually pale yellow in colour and not red as in your case.
“They may be a sign of a medical condition that involves an increase in blood lipids. Such conditions include: diabetes, primary biliary cirrhosis,certain cancers, inherited metabolic disorders such as familial hypercholesterolemia” In your case it could be diabetes.
Please consult a skin specialist and an Endocrine specialist. Hope this helps. Please let me know if there is any thing else.
I have the same thing and im 16 years old i have a liver fatty deposits on me and i got those spots too. I havent seen my doctor yet but im going to. I hope someone would help me figure this out. My mom doesnt know what it is either and we ant schedule an appointment soon so i have to wait please someone help me find htis out its really scary.