No need to freak out. This is probably what is called a smegma pearl, a normal and non pathological variation in the development of the foreskin.
As the foreskin starts to separate from the head of the penis, cells that had attached the two are shed, and can accumulate in pockets underneath the foreskin. These shed cells are called smegma. This accumulation can look like a lump under the foreskin. As separation proceeds, a path to the opening of the foreskin will eventually develop and the accumulated cells will work their way to the opening and discharged as crumbs or a lump of usually whitish, odorless, pasty-dry material.
You do not have to do anything with a smegma pearl. No need to try to manipulate it. It will take care of itself in time. Just know that in some cases it can take a number of years until the trapped cells find their way out, or it may take less. The foreskin can look pretty lopsided in the meantime. But its totally fine and normal. Welcome to the normal foreskin club!