Almost certainly an ingrown hair. Next time just stick the tweezers in there and wrench it out, and it will heal in a very few days.
I hope Jelqking’s problem is as simple. Keep us informed JK.
Very good diagnosis Firegoat. I think it was an ingrown hair also. I had a similar problem once and finally one day I was digging at the scab and found a hair that was probably 3/8” long! And it was darker and thicker than my usual facial hair. It was quite a relief to yank that motherfucker out.