Bubble on eye ball, what is this?

Sounds like a cyst: Hard to say without a pic. Could be a pinguecula or a cyst.

Cyst: A clear jelly-like bubble over the white part of the eye is miost likely a cyst in one of the mucus glands in the conjunctiva. Most will go away without treatment. If it bothers you, you might try artificial tears or see an ophthalmologist for treatment.

Conjunctival cyst: Depending on the size. A small conj. Cyst can be removed by incising with a small needle and is painless. A larger one may need to be incised and the entire cyst sack be removed. This takes a little longer, but with the right drops and possibly a small injection of Lidocaine is painless also.