I Noticed A Yellow Band Just Under The Head Of

I noticed a yellow band just under the head of my penis itself and when I tried to get a closer
inspection I just tore the skin from the band itself causing slight bleeding again just under
the penis head. What is it and what caused it? I am a 71 year old male, circumcised, and have
never experienced this problem before. What can I do. I just have minor irritation now and I
completely washed the yellow band with soap and water. Thank you