The lacrimal caruncle, or caruncula lacrimalis, is the small, pink, globular nodule at the inner corner (the medial canthus) of the eye. It is made of skin covering sebaceous and sweat glands.
With ocular allergies, the lacrimal caruncle and the plica semilunaris of the conjunctiva may be inflamed and pruritic (itchy) due to histamine release in the tissue and tear film.
Gray's s227 — The Accessory Organs of the Eye
Extrinsic eye muscle. Nerves of orbita. Deep dissection
Small white lesion on lacrimal caruncle, most likely a cyst