What is this? It's freaking me out.?

It could be a pimple or just a cold sore. but if its a cold sore then you will not be able to pop it like a pimple, and if you mess with it you could make it spread and you don't want that. but from sounds of it, it is just a pimple that you have not gotten the head of the pimple out, so therefore it will keep coming back until you get the head out.