Hello,
On my penis, there is a bump, between the colour of my skin and slightly red, I have had this for 2-3 days now, but when I squeeze it, a sperm coloured fluid comes out of it. I heard that this could be an ingrown hair, but I am not too sure, is there anything I need to worry about? It also hurts when I touch it, not an awful lot, but only slightly. The white fluid also stinks incredibly.

I just want to know if there is anything I need to worry about or need to go see the doctor.

I am not expert with this. You better see a doctor to treat and prevent this one.

There is a point where the pubic hair tapers off. Is this still in this region or is it closer to the head? Have you had unprotected sex with a new partner in the last few months? Going to the doctor and getting it checked out is good, but it might be worth getting a STI screen too, just to be sure.

It does sound like an ingrown hair to be to be honest. If it is, just keep it clean. As well the word you're looking for is pus, not semen coloured fluid.