Infact what you look as hair is denatured keratin from the plug of the cyst!
Sometimes pubic type hairs grow in strange places that have not developed pigment. I also found this that may help.
Pili multigemini hair
It's not a cyst. It looks like a hair but it's white and really thick.
The only things I can think of are Morgellons or some other kind of fungal infection.