My advice is take your dog to a good vet and get the little lump checked out. The vet may do a "needle biopsy" (or "fine needle aspiration") on it to check what kind of cells are in there. A needle biopsy is never 100% definite a diagnosis, but is pretty clear when it comes to telling if thiose cells are just fatty cells or whatever.
It only takes a few minutes to do, and doesn't require sedation or anesthetic. But you will need to hold him nice and still while the vet gets the needle into the lump. He won't much like it, but it is quickly done. Some vets can tell you within a few minutes what the results are, and it doesn't always have to be sent to a lab.