Is this something serious, or just a bump?

Not what *I* would call a skin tag.  Normally a skin tag is the same color as surrounding tissue and is FLAT for the most part (and will flop over like a 'tag' - hence the name) -- honestly I don't like the color of that and probably would be at the vet sooner rather than later.  I can't really see the texture but it looks inflamed and something that comes up suddenly could be the result of a bite or something not nice.  I'd probably have the vet look soon if possible -- particularly if it changes or grows.

We are going to the vet on monday because of other issues, can it wait that long? It has been exactly like that since thursday night when I first noticed it. Thanks for the reply.

 Whatever it is, it can wait until Monday.  The photos a bit blurry, but I can see that it's round and red.  I would definitely get it checked out (as you are doing).  Even the doctor won't be able to tell what it is by just looking at it.  My dogs have had a history of mast cell tumors.  They can look like this or alot of other, more benign skin lesions.  The point is that, if it were my dog, I would insist that they try to take a needle aspirate while you're there on Monday.  It's the only true way to know what the bump might be.  It could just be a bug bite or an histiocytoma or a million other things, but the cytology from the aspirate will give you a better idea of what it is and how to treat it.

 Chances are that it's nothing serious.  Dogs get alot of skin lumps and bumps and most turn out to be nothing.  However, you're doing the right thing getting it checked.  Good luck and let us know what happens.

If you have an appt Monday it should surely wait -- and DO see if the vet will do an aspirate - it's easier on the dog than an actual biopsy and will usually tell you as much.  I just always hesitate to tell someone an ambiguous "have the vet look" because then often people think "in a few months" and by then it's too late TO do anything if you really need to.  But it's not an emergency vet thing.

Thanks for the reply.Go figure!  The vet just pinched it off, it had dried up quite a bit.  Vet did say that he thinks, it is nothing serious but it might come back from what he could still feel. And if it did then we would try what you said to aspirate then go from there. Vet also said when/if come up to not let it wait too long as being on her paw there is not much to grab hold of to deal with one way or the other.  So again thanks. I get so crazy when something comes up. I just love her so much and want her to be happy and  healthy.

good -- that input always helps.  And there is NOTHING wrong with being proactive like that.  Don't ever feel dumb to bring something to their attention -- hopefully it's ALL nothing, but that **one time** when early detection avoids bigger problems you have made a habit that helps your dog!!! You go girl!!!