Hello, I've had my bellybutton pierced for about 4 months now, I've began to notice that there is a tiny red bump below the piercing like right under the lower hole, occasionally it has some blood or puss around it what should I do, I really don't want to remove the piercing. HELP!:/

Bumps, lumps and infections are very common in new piercings, especially belly buttons. Try washing the area in salty water, just take a jug into the shower with you and rinse it, twisting the ring slightly to flush it out. Don't over wash it! Just once, maybe twice a day as it can cause more irritation.
You should see an improvement after a day or two.
Another common problem is that the bar or ring is too large, you might need to go back to your piercer to get a smaller ring put in.