Why is the little finger called a pinky?

Perhaps the etymology derives from the following:

From Webster's Revised Unabridged Dictionary (1913) :

Pink \Pink\, n. [D. pink.] (Naut.)
A vessel with a very narrow stern; -- called also pinky.
--Sir W. Scott.
 
That was the little piggy that cried "weee weee weee weee" all the way home. One day, someone couldn't pronounce piggy correctly and it came out pinky. This person's family thought it was just the cuuutest thing and told all their friends. Pinky caught on like wildfire and it's been that since.

And I totally didn't just make that up.
 
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