Ringworm is a common fungal infection of the skin caused by dermatophytes, which are a group of fungi that thrive on keratin found in hair, skin, and nails. This condition manifests as circular, red, itchy patches on the skin, resembling a worm under the skin, despite not being caused by any actual worms. It is highly contagious and can be transmitted through direct contact with an infected person or contaminated surfaces.