My first impression is of Pyogenic granuloma. Do consult your doc.
can't we think about hemangiomas !! .. like granuloma pyogenicum or cherry hemangioma !!
It's hard to guess, but it could be a basal cell or squamous cell, and both of those are things that need to come off. Its not an emergency, but within a month or two you'd want to get it off in case it was one of those.