Thanks for your query.Based on the facts that you have posted it appears that you have Sebaceous cyst
on penis .
The penile skin is rich in sebaceous glands and hence prone to get more sebaceous cyst due to accumulation of sebum beneath the skin.
Normally it fades away without treatment however it need to be treated if increase in size or get infected.Please consult qualified General Surgeon
for clinical evaluation and further treatment.
If needed which are bigger may need to get excised in Toto (Completely along with the sac)