Hello dr. my 8year old daughter has just noticed what looks like a cyst on her lower lid margin which seems to have yellowish particles inside.

No pain?: Sounds like small retention cyst - on lower eye lid . It could be small accumulate of " oily substance " as produced by glands in eye lids for eye lubrication . Sometimes may get clogged as " pimple". Don't press on it - just place warm compress and if not bothersome leave it alone and observe of any changes . Consult ophthalmologist if concern or getting bigger .