What does it mean when you have a bump near your new piercing?

A bump near a new piercing is most likely a Keloid. A Keloid is basically a scar cause by condensed scar tissue from the piercing. I have a few due to piercings, and I've noticed that as time goes on, the Keloids become less noticeable and irritating. It's very common and nothing to worry about. However, if it begins to enlarge or hurt really bad, seek medical attention as you may have an infection.