As a generalization, the reducer, Red Relief is made for colors that come from man-made dyes also known as FDA dyes of food coloring. However, the dye in Pepto Bismol is easier removed with an oxidizer (according to CTI / Pro’s Choice). Thanks to Shawn F for that information.
So I suggest using either Stain Magic or Stain Zone. For either of these products be sure there are no other chemicals or spotting agents in the carpet. Rinse first if necessary. Apply the Stain Zone (or Stain Magic) to dry carpet. Since synthetic carpet will only absorb so much moisture, the stain removal product tends to stay on the surface of damp carpet. You want it to really soak deep into the fibers to reach all the source of the stain.
Really saturate the satin. Depending on the amount of staining material, it can take from 10 or 15 minutes up to several hours to gradually remove all the color. Fortunately neither of these products must be rinsed out. Once you see that it is working, you can leave it continue. Just be sure the product does not dry out before it has time to remove all the color. Of course, if you are there when the color is gone, go ahead and rinse.
For using Red Relief – Some stains, especially very new ones (a day or two old) will come out without heat. Steam is required for older stains. A wall paper steam or Jiffy Steamer or a steamer specially made for this work will do fine. If you use an iron, make sure it is filled with water and the steam setting works. Expect the bottom of the iron to get a chemical build-up. Don’t use the same iron on clothing unless you clean the iron first. Set the iron on the lowest temperature that will produce steam. For many irons this is the “wool” setting.
Another option is to soak a white cotton towel with water and put it in a microwave for a few minutes. Using tongs, place the hot steamy cloth over the stain.
Depending on the original dyes involved, Red Relief will either remove the color or turn it a brownish yellow. Check every 30 seconds or so. If you see the color gone or only brown / yellow. Then extract to rinse. Other-wise you can go for another 30 seconds as long as you are seeing improvement. If there is no improvement, add some more Red Relief.
For any of the products, use the freshest product for the best result. Heat and time will reduce their effectiveness.