Ok just about 2 days ago I noticed I have a bump on the side of my shaft around the size of a pee I am extremely worried and don't know what to do it only hurts if pressure is applied I tried to pop it once and puss came out now all that happens is blood comes out please help me!

If you are sexually active, even if you regularly use condoms, you may have to see a doctor to rule out any sexually transmitted disease.

Otherwise, it sounds like a cyst, which you SHOULD NOT try to pop, you should go see a doctor also, and see about having it removed.