Based on the description, my guess is that it's a benign nodule/ cyst; similar to a pimple. They tend to feel hard or solid, are very sensitive (painful), especially when rubbed or squeezed.
And, they can develop almost anywhere on the body... even down there.
They eventually go away on their own... and sometimes, that can take many months.
If you can pop or lance it, dry off the fluid (pus) and keep it clean as it heals; but, don't use rubbing alcohol (that'll burn). Instead, use something mild, like peroxide.
Unless it gets infected, grows back, you develop more in the same area, or it continues to hurt, I wouldn't worry about it.
Oh, I have the same question, essentially. I'll wait to see if anyone answers yours. From what I can gather it's either an ingrown hair, or a boil... but the question is really.. how dangerous is this? What's the likelihood of it spreading up into the vagina?
ok update i popped it and yellowish color with a little blood came out could that be a infection or something? please help.