I am not very comfortable talking about this, but i am sort of worried...i recently discovered a red lump on my "ball sack" which is painfull to the touch. I did not know if i should consult a doctor about this, or just let it pass (thus concluding why i came here.
If you shave, it could be an ingrown hair. It could be an irritated hair follicle either way. Don't mess with it or it could get worse. If you want my advice, put warm compress on it a couple times a day and some cortisone cream afterwards. Be careful not to further irritate it as it could take a while to go away. Remember: Don't pick it!
If you're still truly concerned you should show it to your Doc.