In a 2-day-old infant with flesh-colored papules with an erythematous base, what is the most appropriate management?

In the scenario of a 2-day-old infant with flesh-colored papules having an erythematous base, the most appropriate management is observation only. This is indicative of a common and benign condition known as "erythema toxicum neonatorum," which typically manifests as transient papules and macules in neonates.

This condition does not require immediate treatment as it usually resolves spontaneously within a week or so without any intervention. The key factor in management is monitoring, since these lesions are not harmful and do not indicate any underlying pathology. Referring the infant to a specialist or initiating topical or immediate treatment would be unnecessary and could introduce risk or stress without benefit. Therefore, the safe and appropriate approach is to observe the infant's condition, supporting the rationale that such cases can typically be expected to improve on their own.