I Have What Looks Like A Pin Hole That's Open

I have what looks like a pin hole that's open and black inside until I squeeze it. A sort of creamy texture comes out and has and odor. Every now and then I will squeeze it because it seems to refill. I can feel the fullness of the creamy texture under my skin before I squeeze it. Is that a possible mole or some sort of cyst, is my question. Should I be concerned