Kolb injured his right toe during Sunday's game against Baltimore.
"He's come a long way in two days. That thing was swollen and black and blue," Arizona head coach Ken Whisenhunt said.
"I had good movement today, and the color's getting better, so as long as we keep progressing that's the main point," Kolb said.
As for Kolb's playing status for Sunday, Whisenhunt wants to see how the injury progresses as the week goes on.
"It's got to really depend on his ability to run and plant off of it," Whisenhunt said.
If Kolb can't go on Sunday, the Cardinals will turn to second-year pro John Skelton.
Skelton started four games for Arizona as a rookie last season, completing 60- of-126 passes for 662 yards, two touchdowns and two interceptions.
In addition, running back Beanie Wells participated in limited practice on Thursday after missing practice on Wednesday.