There is a keloid inside my earlobe. how do i fix it? what will happen if it stays in my ear? what exactly is it?

Depends: A keloid is over active scar tissue. Sometimes removing keloids can actually cause them to grow. Speak to your family physician or dermatologist for the best treatment for you. If it is not bothering you, it doesnot hurt anything.

Keloid: Keloid is basically a form of scar which is basically excessive healing tissue accumulating in a place where there was a wound.It's not malignant but it does not usually resolve on its own.There are various forms of removing it but one of the most common is intralesional steroid injection in order to make it smaller.There are other modalities that can be used as well. See a dermatologist for this.