Do Pygmies Really Exist?

Yes pygmies do exist, mainly in parts of the Zaire basin in central to southern Africa and South East Asia.  A 'pygmy' is a description of someone who has evolved to be small, particularly common in people who may live in small densely packed forests etc.  It does not refer to someone's ethnicity and some people find the term pygmy offensive and they prefer to be identified from their ethnic grouping eg Mbuti, Baka etc.
They are therefore not a race, but simply people who share characteristics of height.
People who are pygmies do not experience the same sudden growth rate which most teenagers experience.  They are therefore referred to as having 'insular dwarfism'.  Some tend to grow to about 5 foot, but most are well under this level of height.  African pygmies tend to be nomadic and are renowned for their music which has extremely complex rhythms and harmonies.