I had one on the outside of my wrist as a teenager. (It's grown back but it's not as troublesome as it was.) I had it removed, it was a pretty simple outpatient procedure from what I remember. Mine wasn't as big as yours sounds, it was just uncomfortable before it was removed. Sorry, it was so long ago, I don't remember much about the recovery. It must not have been difficult, or I would have remembered that.
Java, I was also told to lay my arm out on a table and let someone drop a Bible on it. I had a cousin who claimed it worked for her years before and she was always volunteering to help me get rid of mine.