What is it doing-?

I’ve had it lanced twice. I woke up Saturday morning to find that it had bled, and noticed the pressure I felt was relieved. There was no pus. I thought maybe one of the lancing scars had opened, but ultimately didn’t think anything of it but to keep an eye on it and keep it clean.

Fast forward to today, and my partner wanted to take a look at it. Something is protruding depending on what position I’m laying in.

Is it the cyst’s sac? Is it tissue or muscle? Does anyone have any experience with something like this?