Small, bubble like pink/flesh toned bump inside corner of eye, near nose. not painful, no irritation, other eye does not have. what could it be?

A cyst: Cysts around the eyes and eyelids are quite common. They generally are due to obstruction of a hair follicle, or glands such as sebaceous or sweat glands. A bubble appearance sounds most like a retention cyst to me. It may likely need to be excised surgically, so I would schedule an appointment with your ophthalmologist for evaluation and treatment. Good wishes:)