Reoccurring Bump On Arm Pit With Leaking Yellow Puss And Blood. Should I Be Worried About That?

I had a big bump on my armpit, about the size of a quarter. It's been reoccurring since i was younger that the bump would come and then go. i thought initially it was from wearing underwire bras that would dig into my underarms, so i switch to cloth bras. Well about last month around the time of my menstrual cycle the bump came back, and had not gone away for some time. Yesterday this bump popped and began leaking yellow puss and blood. due to special circumstances I was unable to go to the doctor, the bump is completely gone now, but there is a large (about pea sized) hole in my armpit now. I've cleaned the wound well and put peroxide on it, and Vaseline. Should I be worried about this? Am i treating this correctly? Will it come back? the hole is very concerning. I've not been able to wear deodorant on that arm as well so I've been self conscious. its leaking and smells and I'm at my whits end! I do have a history of sinus and allergy problems. I've had my tonsils removed due to swelling and I've been suffering especially hard from allergies this summer. I'm not sure if that information helps but i hope so.