It could be a skin tag, but doesn't sound likely if it hurts farther inside your vagina. You definitely need to see your OBGYN. If you don't have insurance, try a local health department.
Its attached right at my vaginal hole. i can feel where it starts and its barely inside of me. When I tug on it however, its painful farther up in my vagina.
It doesn't sound common. Is the growth coming out of your vagina, or is it attachehd to the outside? When you tried tugging on it, where was the pain felt?