I have recently had bot a papsmear and std testing done all which came back normal. However for the last 5 days or so I have had this 1 bump on the inner lip of my vagina that started with no pain or itching but as it progresses the size doesn't change but it does itch and is a little tender now. I don't honestly think its an STD but I'm not 100% sure if they checked me for everything. Also I do shave and was thinking maybe that could be the cause. Any pointers?

Yes, it could be an ingrown hair.

Did the Doctor say follow up testing should be done after a certain period - not "everything" shows up positive right away.

It is not uncommen develop hematoma during the routine vagina exam due to trauma.You said that you had papsmear done recently.Give little time for observation then looking for professional evaluation.

No the dr didn't say anything about a follow up.