Difficult to comment without seeing but the way you are describing it could be dermoid or could be pterygium. Depending on how the swelling is and where exactly it is, further treatment is advised. If it’s painless and small , not increasing in size and doesn’t affect vision , no need to touch . But as u said it’s looking ugly , u can go ahead with surgery to excise the same for cosmetic purpose . But yes need to be seen by ophthalmologist first !