I found a painful lump with a black spot on the top of it on my vag lip a week ago. Within the day it popped with blood and yellow pus. After it healed it started to grow back again. I'm really scared because I know it isn't an in grown hair and it can't be cancer... If it is a cyst, what can I do to get rid of it?

You can go to a doctor to get rid of it. Only a doctor will know what it is and will know how to deal with it.