Pyogenic granuloma: a small, vascular benign tumor of the skin or mucous membranes. They appear as a small reddish bump that grows rapidly at first and then remains a constant size. The size rarely exceeds 1 cm in diameter. Pyogenic granulomas usually develop on the arms, hands, or face. They occur in people of all ages, but those most commonly affected are in the second and third decades of life. Their exact cause is unknown. They bleed easily because they are rich in blood vessels. Surgery is the preferred treatment because they do not resolve on their own and tend to bleed heavily. They may recur if not completely excised.
Pyogenic granuloma is also known as lobular capillary hemangioma. The name "pyogenic" suggests an infectious process, but an infection is not believed to be the cause.
Reference: MedlinePlus.com. Pyogenic granuloma.