Small bump on outside of inner vagina lip feels like a small rock and when skin is stretched is white thought it was a pimple but is not.

Cyst?: It would be best to have this examined in person, but we can make a few conjectures. It does not sound like a genital wart by your description. It could be a small inclusion cyst which is totally not a problem and needs no treatment. The other possibility is a condition called molluscum contagiosum. However these usually appears as 5-20 or more bumps, so this is not likely. It needs to be seen.