Not necessary. That is an ingrown hair. They are a bitch and they can take some time to heal. My suggestion is to lay off girth work for now and stick to only dry stretching exercises. You should use a hot compress for 5-10 minutes a couple times daily. You will eventually see the hair surface and then you can carefully tweeze it out. I have had a few of these and they do suck. Preventive maintenance is also good to avoid future problems. If you use an oil based lubricant it is vital that you wash all of the lubricant off after training. It is also good to inspect your penis daily for hair on the shaft and be sure that it does not curl back, these are the main reason ingrown hairs happen. DO NOT PICK AT IT! I did this with one of my ingrown hairs on bad advice and now have a scar due to it. You may notice a yellowish pussy fluid after heat compresses and this is normal. Looking at your ingrown hair in the picture you appear to be at the point where it will pop on it's own soon, which is good news. The heat will speed this and the healing process will happen quickly.