Understanding a Skin Growth on the Penis: Causes & What to Do

Question
I have "flap of skin" on my penis. My wife and I were virgins when we married and aren't sleeping around. This spot is kind of like a mole, but not dark or colored like one. It's not a rash, or a scab. It doesn't go away and then come back. It hasn't always been there. I don't know when I first noticed it, maybe a year ago. It's size is just smaller than 1/8 inch dia, maybe 7/64 and it is about .050 in. tall. I don't know how else to describe it. Thanks for your time.

Answer
so it is a skin colored growth... this may be a small skin tag.  This is also what a genital wart would look like.  I know the thought isn't pleasant, but these are very easy to remove.... some local novacaine and they are easily shaved off.  Then it can be examined under a microscope for a definite diagnosis.