Hello,
Thanks for posting your query.
Usually at the earlobe where the piercing is there, it is a common site for cysts like epidermoid cyst or sebaceous cyst. Epidermoid cyst can be caused by a blocked pore adjacent to a body piercing. They are usually symptomless but may hurt when touched when they are infected. They can release pus and collected sebum.
Both of them are harmless. If it is cosmetically unpleasant then it can be removed by simple surgical excision.
Hope that this information helps and hope that you will get better soon.
Wishing you good health.
Thanks! Such a relief that it's nothing too serious like an infection or keloid.
How much would the procedure cost to remove it? I am going to the dermatologist this week but was wondering what a rough estimate might be.