What Do Pinkish Red, Raised Rashes On Ears And Elbows Of A Toddler Suggest?

My 3 year old son has a rash on just his ears and elbows. The bumps appear to be pinkish red with a slight raised white bump. They seem similar to hives which he has had in the past but are maybe not as splotchy. Any suggestions on if this is something other than hives? I should also mention that he has had a slight cough for a couple days, and is sneezing a lot today. Other than that there have been no other environmental changes.