That will be OK in the long run.
You can move the skin back over or you can just take a small scissors and trim it off -- either way it won't hurt anything.
That skin is just the callous on the bottom of your foot. It is dead and will, with time, slough off as your foot grows a new layer of skin in the area of the cut.
You might want to put some over the counter antibiotic ointment, such as neosporin etc, on the area along with a bandaid.
If there is any sort of puncture wound present (doesn't look like it in the photo) then you need to make sure your tetanus shot is up to date.
So. What is the take home message?
This will heal up just fine no matter what you do with that flap of callous.
Watch for signs of infection.
Does this make sense to you?
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Dr. Rick MD FACS