Thanks for your question about your betta. From what you are describing, it is likely that your fish has a parasite, however the color would not be typical. Usually parasites, such as anchor worms, that are common on the outside of fish are whitish in color and not pink. There are a few options - you could post a photo and this may help to determine what it is. You could also take your betta to a veterinarian for evaluation. They would be able to determine based on examination if this is a parasite or not. With the pink color, this could be something more serious, such as a disruption in the body of your fish with something coming out of the hole in the body.
I hope that this gives you a place to start, and thanks for using Petco Pet Education Center, formerly Petcoach.