Hi, young man.
No one gets cancer at such an early age, so first of all get the fear of cancer out of the mind.
Since you have not given the detailed history related to the duration of this lesion on the lip, how did it start, had some kissing or sexual interaction it is a bit difficult to say what exactly this lump is about in spite of a clear picture you have posted.
This looks to be an old cyst or cold sore getting alright where you have applied something to it changing the appearance of it.
I think particularly in your case, I would like you to be examined by a Dermatologist so that a proper diagnosis and treatment can be instituted well.
Do not pop or try anything at home.
These Q&A’s are for educational purposes and should not be relied upon as a substitute for medical advice you may receive from your physician. If you have a medical emergency, please call 911. These answers do not constitute or initiate a patient/doctor relationship.