Wierd dead skin in pubic area

Hi I'm 18, and I have noticed I have some odd dead skin between my penis and thighs. It has a waxy-like substance, and I'm able to peel it off. However, I'm scared if I do I might make my skin too thin and create an abrasion. The skin is grayish and white.

Does anyone have any idea what it could be, and how to get rid of it?

Thanks