What started as a lil white bump on the corner of my mouth has turned into a big red bump with what looks like two or three white heads on it.

Sounds like cold sor: If they look like little blisters they are probably a cold sore caused by the herpes virus. over the counter abreva works nicely on cold sores, but if it doesn't go away in a week i would see a dermatologist.

Infection: JeffM838, Sounds like a minor skin infection that has developed into what is known as a carbuncle - an infection larger than a boil with several openings for discharge of pus. This may require antibiotic treatment. I would see your medical provider for evaluation.