Hi, i had a big colourless spot just above my penis next to my thigh. i squeezed it and blood and pus came out. hard underneath. is it cancerous?

Infected cyst?: For sure this isn't cancer. It sounds like a boil (skin abscess), or perhaps a sebaceous cyst that has become infected. See a doctor immediately if there is redness spreading from that area, if it's very painful, or if you have fever. Also get care if it doesn't heal up in a few days, or if the same problem recurs in the future. You may need minor surgery to prevent recurrence.

Most likely not: It most likely represents a infected cyst. See a physician to see if it needs to be excised since there is a high recurrence rate