It does look like ringworm.
yep id say ringworm too, just google it and look at the images exactly the same.
Before even reading the post it looked like ringworm to me.
You need to get her to the doctor. It looks like the circles are worse on the outer rim then on the inside which to me seems like ring worm.
Don't play guessing games with this, it looks painful and you need to figure out what is wrong with her.
Since you have a steroid cream I'm assuming you have been to a doctor.
What does he say? Has she seen a dermatologist?
This looks like ringworm to me. A very, very bad case of it. She needs a doctor yesterday.