a lump near my vagina which was slightly painful, watery blood came out of it

So for the past few days I've realized I've had a lump near my vagina. It was slightly painful some days but nothing that bad. I didn't think much about it because I've gotten some before then. I just leave them alone or pop them but I was using the bathroom today and I decided to squeeze the lump and when I squeezed the lump it bursted watery blood. (the more I squeezed it just kept coming and coming) So I took some toilet paper decided to drain some of it and noticed that there was a pin sized hole. Then I noticed that there was either another lump without a head next to it or just the placement of the zit / cyst. I'm not sure what to do about it. Could this be the sign of an infection or something more serious? Or should I apply a warm rag and continue draining it? Or should I even call my doctor?

HELP