Thank you for the query.
If this lump is near the joint, it can be a ganglion cyst
. This is mostly caused by joint small herniation and filled with some kind of gel-like substance.
It can be also sebaceus cyst or lymphoma
(however if you were able to remove it with squeezing this is unlikely possible). All this lumps are benign and should not bother you. If you want to make sure if it is gone, soft tissues ultrasound
should be performed. If it was not removed completely, probably it will recur.
Hope this will help.