if you have a little bacitracin, or triple antibiotic ointment it would be ok, what color is the drainage
I think you should pull both earrings out (if there are two, I can't tell), THOROUGHLY cleanse the earlobe with warm soapy water, and then put neosporin on both earlobes.
Watch the earlobes for further infection.
Then, wait until she is old enough to want earrings to attempt to pierce her ears again - maybe when she's 13 or so.
This happened to my daughter too after she had had her earrings in over 6 months and I did everything right keeping them clean. I took both out and let the holes close I will never pierce again until she and my future girls are old enough to ask for it themselves.
My dd's looked like a little bubble on the back of her lobe - I put a warm wash rag on there and it went down then I put antibiotic ointment on it for a few days and she was fine. It never hurt her and today there is no scar. Good Luck
Oh thank you ladies! great advice... I will call the doctor just in case and see what he has to say.