Red rash on Foreskin

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Hi Ive recently had this red rash show up on my foreskin. It doesn't itch or burn but I woulf like to know what it is.

Things like this can have two main sources of the problem: something to do with your health, and more relevantly, the health of your penile skin, or, something, or a range of things that are in contact with your penile skin, usually, on a regular basis.
One further factor is how recent issues have arisen, is this a very recent thing that is, or has some level of compromise been happening for quite some time. You may have not noticed anything going on but the health of your penile skin could have been compromised for some time.
Start by thinking about everything that is in regular contact with you penile skin. Typically a list of things would include soap, shower gel and any other form of body wash, such as hair shampoo that may drain to your genital region when you are showering.
Then there may be things like skin creams, lotions or moisturisers, Lubes for masturbation or sex, or really, anything you may put onto your penis.
Make your own list, try to exclude all of these from contacting your penile skin for 3 to 5 weeks if you can.
The only safe thing to contact damaged skin like this is water, make sure you carefully and fully dry the skin in the area so as not to cause further damage.
If you are sexually active and / or masturbate this may further compromise the health of your foreskin as it is presently. Particularly if any lubes or even condoms are involved for sexual activity.
After 5 weeks or so you should know whether the skin of the area has been able to recover and gain strength, or whether there is something like a skin health issue going on
Please update in 5 to 6 weeks unless you have any further development to the issue

Thank you for the information. Do you think its a type of STD from the photo?

What a photo may show and what the actuality of the presence of an STD may be can be two entirely different things =
If you feel that you have been at risk of an STD get tested.
.
What you see in the photo is compromised penile skin: first you need to give it time to heal, you greatly help this process by excluding contact with everything other than water for cleaning.