I suggest to get it checked what kind of cyst it is. And since it is irritating you have to go for removal. Or shave to take medication to reduce it so visit your doctor he can guide you once doctor can observe and evaluate it.
Hit thanks ifnit is useful.

---

Brief Answer:
GET AN EXAMINATION DONE AND REMOVED IF REQUIRED

Detailed Answer:
Hello.
Thank you for posting your query in healthcaremagic.com.
This is Dr. Swarnava Dattagupta answering your query.

I understand your concern.
A cyst is a fluid filled swelling. It might be infective or non infective in etiology. Generally a cyst in the lower part of ribs is benign in nature and unless any symptoms occur, we do not think of removing it. You have said that it is causing irritation. If the irritation continues and pain sets in, it will be better to get it removed. But before that, clinical examination of the cyst is important to know the type of the cyst and if required, further investigations may be done. If removal is decided, it can be removed with local anaesthesia only.
So I would suggest you to go to a general surgeon and get it checked. He will be able to tell you further regarding their status. Clinical examination is very important.

Hope I have answered your question.
You can contact me for further queries.
Regards

---