Hello Thanks for query .Based on what you have stated I would state that you have Sebaceous Cyst over penis . The penile skin is rich in sebaceous glands and hence prone to get more sebaceous cyst due to accumulation of sebum beneath the skin. Normally they fade away without treatment however they need to be treated if increase in size or get infected. Take antibiotics like Doxicycline along with anti inflammatory medicine like Diclofenac twice daily for a week . If persists even after taking antibiotics consult qualified General Surgeon for clinical evaluation and further treatment. If needed it may need to get excised in Toto (Completely along with the sac) under local anesthesia. Dr.Patil.