Four cases of Malassezia folliculitis in immuno-compromised patients with leukemia, papillary adenocarcinoma of the lung, and chronic renal failure are reported. This condition manifests with multiple bland asymptomatic follicular papules of the trunk and arms. Biopsy specimens show dilated follicles containing unipolar budding yeast forms. Malassezia is a common infection that must be differentiated from the cutaneous manifestations of systemic candidiasis.