From a few days , i am having heavy white discharge and also something red fleshy thing hanging from my vagina though it isn't painful at all . what can it be ?

See a Gynecologist: A key question here is have you given birth? If so this could be a cystocele, a defect in the roof of the vagina that allows the bladder to herniate or fall through. This can and should be repaired. Depending on where in the birth canal damage occurred there can be other protrusions into the vagina besides just the bladder. These hernias are a common post-partum complication. See a gynecologist!