You may have noticed from IU's MV that there are not only red shoes but also pink shoes involved.  Her title also can literally be translated to "The Pink Shoes" despite the main motif being red ones.

On October 23rd, she appeared on SBS's 'The Show All About K-Pop' and explained why she wore red shoes rather than pink during her stage performances.

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In the interview, IU was asked, "It is called 'The Pink Shoes,' but why do you wear red shoes?"

She responded, "Without heeding my mind, the heart yearns for someone and desires to return to the past--as I am singing about these kinds of things, I wear red shoes to dance on stage even though my heart is represented by pink shoes.

I have to dance so that it looks like the red shoes is dragging me around while my heart is yearning for the pink shoes."  

She revealed that performances of her wearing pink shoes will be coming soon!

IU also explained why she needs three pairs of shoes for her stage performances: "I need three pairs of shoes.  One that I wear, one that the dancers try to first take away from me as part of the performance, and lastly, the one that rattles alone on stage after I disappear--all for a total of three necessary pairs."

Check out the full interview and her performance above!