I Have A Red Bump Under My Belly Button Piercing If I Pop It It Will Bleed It Looks Like The Inside Of My Piercing Wall Is Coming Out Its Freaking Me Out. Will It Go Away By Itself?

Just relax , it will go away. Most likely within a few months like 2 or 3 . Don't pop it . && don't worrry I had the same problem .
O1. Don't take out the belly ring ! Bad mistake
O2. If your usin peroxide ..STOP NOW
O3. Just clean it( it as in the whole belly area etc) with anti bacteria soap ; and put bactrine on the bump
FoLLows these tips && yu will be fine

Form tay :-)