What Causes Scab Like Growth At The Edge Of Ingrown Hair?

I was shaving down there and thought I found an ingrown hair. I rubbed over this ingrown hair with my tweezers. To my surprise the more I rubbed it the more it came out, I eventually squeezed it as you would a blemish and a think scab like growth came out. It was painless, but it does concern me. What could this be and should I be concerned?