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Hi. What you are talking about is a resolving chalazion. The small bump will go away, but it might take many months. If it is not bothering you I wouldn't do anything about it at this point.
However, if the bump is "big" (as defined by you :o) you can have an ophthalmologist remove it by I&D. This is where the area is numbed and a small incision is made over the bump and the "gunk" inside is removed. What is the gunk? It is the normal secretions and possibly residuals from any infection, from the affected meibomium gland. It usually looks like cottage cheese.
In any event, this is an easy, safe, office- based procedure. As I stated above, however, there is no need to do this if you are willing to wait for the bump to go away on it's own.
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