About A Month Ago I Noticed A Bump On My

About a month ago I noticed a bump on my side. At first I thought it was a bug bite or acne. Then it started getting a little bigger and more round/flat. It was also slightly itchy. Then a small scab appeared in the middle and slowly got bigger until it was almost all scabbed over. There's only one (but I think another one is appearing) and it itches from time to time. I haves picked at it at all. It's also above my jean line and I've never shaved there before. Do you have any idea what it is?