Is this a cyst?

[Argent]

And if so, what do I do with it???

As you can see from the pic, it's tiny. I've been keeping my eye on it for a couple of weeks now, and it doesn't appear to be filling up underneath the skin, in fact, it feels like it's trying to migrate out of the hole, but is somewhat stuck because it's all hard and dry.

 

[purinpurin]

Have you tried holding a warm, wet cloth to it and letting it soften to see if it'll loosen enough for you to make an attempt at peeling it off? If it's too hard, then you might want to try every few hours... Definitely not suggesting forcible removal. :O

 

[Argent]

Lol nevermind, I was showing my housemate and it came out just from gently pressing the skin around it!

There is now a lovely gaping hole which is bone dry:

and the offending item which looks almost like a ball of hardened wax/sebum:

 

[jorats]

Yep, those little suckers pop right out. It could be a dried out cyst, most likely keratin or an old dried up abscess.

 

[Argent]

Looks good then. I'll just keep an eye on it to make sure the hole doesn't get dirty or cause another abscess.