Remember all that brightly colored tape that athletes wear at the Olympics? It apparently can be used for bunions:
Kinesio taping has some controversy around it as to its effectiveness but discussion between those who do use it for bunions is that they do find it helpful. There is no research one way or the other as to its effectiveness.
It is unlikely that the taping method can actually fix bunions, as the forces making the bony changes are too great for a flexible tape to overcome, however, it may be helpful for the symptoms that are caused by bunions.