Red bump between inner thigh & vagina looked like skin tag @ first now it is swollen & red i shaved & cut the top of it and it bled a lot what is it?

Evaluating bumps: They are difficult to do without being able to visualize them. At your age, its unlikely to be anything significant. However, if it persists, grows, or becomes inflamed, you will need to see your local physician or dermatologist.

Probable Hemangioma: From your description, it sounds like a thing called a hemangioma, which is a benign collection of tiny blood vessels in the skin. It usually requires a simple, quick, cautery procedure to fix it.