I honestly don't know. It sounds like it may be fluid, or possibly a cyst. Cysts can drain and then fill up again. They are 'encapsulated' so have a membrane inside which the fluid collects. Sometimes if they spontaneously drain, because the membrane is still there, they can collect fluid again.
Now that's just a guess, and I may be wrong. No-one should assume any lump or swelling is harmless, because every one needs to be tested to be sure.
Another thought is -could it be a hernia of some kind? Again that's just a wild guess.