Raynaud's phenomenon is characterized by fingers becoming white due to lack of blood flow, then blue due to oxygen consumption, and finally red as blood flow returns. Update Date: 07/24/2008Neil J. Gonter, MD, Assistant Professor of Medicine, Columbia University, New York, NY, and private practice specializing in Rheumatology at Rheumatology Associates of North Jersey, Teaneck, NJ. Review provided by Verimed Healthcare Network. Also reviewed by David Zieve, MD, MHA, Medical Director, A.D.A.M., Inc.