Adorable! They are each marked "Panay P.I." and dated "1945". I always thought they were small souvenirs from the Phillippines, probably brought or sent home by an american military individual while stationed in the Phillippines. When I started researching, I saw adult sizes available also. Maybe these were for a small child or maybe doll shoes.
They are in perfect condition for their age, I see traces of red around the fabric trim and edges, don't know if the fabric has faded or if there was an original trim in red that is now gone. There is a scratch on the left one above "Panay, P.I.". There is also a name and address written in pencil on the bottom of the left shoe, then some lines and a 5 written on the bottom of both shoes.
OVERALL LENGTH: 4 3/4" OVERALL WIDTH: 2"