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Does this lump itch or drain anything?
Thank you for your response.
It is possible that it is a sebacous cyst.
A sebacous cyst is a small growth under the skin that is filled with and oily substance.
They are fairly common and do not hurt unless they become infected.
The only way to know for sure is for your doctor to check it out.
He may need to do a biopsy but usually can tell just by looking.
You can read more about them here:
The chances of it being anything more serious are about as big as it is but there is still a chance.
Let you doc check it out to be sure.