Small hard bump on penis shaft just got very big. What is it?

I had a small flesh colored bump on the shaft of my penis. It has now grown very big. Me being stupid, I attempted to squeeze the lump and a light yellow discharge followed by light red came out. It is fairly uncomfortable. It feels very hard under the skin almost like a giant zit. Any idea what it is?

Maybe a boilor infected hair follicle. Tell your doctor.