Yep, cyst, folicolitis, boil
Could be any of these. Instead of waiting, you can go to the doctor to have it lanced.
You can use tea tree oil, oregano oil (the heat sensation subsides), pau d'arco, all topically on the area. They all will soak to the infection.
A paste of cayenne would help the blood in the area. If it bleeds, put cayenne on it and it will staunch the blood and disinfect. No, it doesn't hurt but try not to get it on the mucous membranes (labia) or the heat will be intense then.
I'd suggest that you look into internal cleansing (liver flushing, blood purifying, encouraging the lymph system) as you may be prone to these under your current diet.
I too get these. It has taken me about 10 years to get to a point where I took it seriously and started to do the internal cleansing stuff. Don't be like me and put it off. You have an excellent opportunity to avoid 10 or 15 years of annoyance and embarrassment - take it. :>