I'm a 23 year old circumcised male(had phimosis when I was born but was corrected with surgery), I had masterbated in the morning yesterday then roughly 2/3hours later I noticed this "growth/swelling" of tissue near the tip of my penis by the remnant foreskin on the left side? The tissue growth/swelling is still there today and I'm wondering if this is some type of inflammation/infection/edema/etc? I'm guessing its not cancer because it happened in a matter of hours. There is no pain, itching, irritation, its just unsightly/strange.

Your only option is to see a doctor. There's no way for us to diagnose what's going on.

Also, I asked the mods to remove the link to your picture. This is a family site, we do have kids posting here.

Post edited, very likely an infection, so time for a trip to the health department or you local doctor