I have a lump on the side of my penis, it started off as a small white pimple looking bump but now is the size of a pea and hurts to touch?

Here are some ...: Without a look at and palpation on it, it's hard to offer accurate Dx. But what you described strongly suggests you got an infected sebaceous cyst, which in time will pop (burst), drain, resolve, & heal. Afterwards, it may be quiet for a while, regrow to run a similar cycle with a widely variable interval. Its definite Rx is surgical excision while infection/abscess is gone with partial regrowth.