Could you please give me a little more information so that I may answer your questions better.
How long have you had the bump?
Have you had this bump before?
Do you think that you may have bit your lip, or any trauma to area lately?
What is your age?
Thanks for the additional information.
This is common of a cold sore. Cold sores are small, hard pimple-like bumps which will appear on or right around the lip area. They are also called fever blisters and can feel sore and sometimes may create a tingling feeling at the area. Cold sores are common and are caused from a virus. They can be treated and duration can be reduced with treatment if this is the case. Cold sores/fever blisters are a form of herpes, which can be properly diagnosed and treated by a physician.
This may also be just a regular pimple/zit that requires nothing more than care for a pimple until it heals on its own, as pimples do sometimes flare up at or around the lip area as well as anywhere else.
Because it is difficult to truly determine the exact cause without further testing, I would suggest that you see your primary care physician when able for further evaluation and treatment if necessary. Cold sores (herpes simplex) is contagious, and would require treatment to decrease future breakouts if this is the case.
I will also include a website below for further reading on this, with symptoms as this may help.
Cold Sores Causes, Symptoms, Treatment and Prevention on eMedicineHealth.com
I hope this helps!
I wish you the very best!