Welcome to HealthcareMagic. A bump on the vaginal area could be a simple cyst
due to blocked skin glands, blocked hair follicles, and clogged sweat glands. Genital warts look like cauliflower like growth and herpes
presents as painful itchy blister
which scabs over. Keep your vaginal area clean and dry. Use warm compresses and topical antibiotics on the bump. If the symptoms persist then you may consider tests like viral Culture, HSV
FA, Viral PCR, and serology to rule out herpes.
You have to consult a gynecologist to get it evaluated. Hope it helps you. Regards.