I would think not having a little toe would make it easier to find shoes that fit, but then I have very wide feet and most normal shoes pinch.
The New York Times, among other media outlets, have run articles on the practice.
Here is an article from ABC News on the topic. As mentioned, medical organizations frown on this as a cosmetic procedure, but as Qadgop pointed out, if you have the money and can convince a doctor to do the procedure you can get it done.
Wikipedia is a nice starting point but it’s not 100% accurate.