Hello,
This small bump can be a small boil, follicle or a cyst. Treatment of a cyst includes small surgical opening into the skin and removing the sac (excision biopsy). But recurrence is quite common. I suggest you to get the diagnosis confirmed from a dermatologist after examination.
It is very difficult to precisely confirm a diagnosis without examination and investigations and the answer is based on the medical information provided. For exact diagnosis, you are requested to consult your doctor. I sincerely hope that helps. Take care and please do keep me posted on how you are doing.