Most likely a sebaceous cyst. They will drain after awhile. Usually caused by sweat getting trapped down there. Wash there when you shower. If it sticks around, a doc can either poke it right off of you or drain it. You can drain it yourself often by keeping a hot moist towel or something on it for awhile and it should start to drain. But I'm not a doctor, I've just had them a couple of times and that's what it sounds like.