Trauma to the skin. There must have been good friction when your fingers moved across the skin. I'm afraid the redness will persist for more than several days. I would use makeup to cover it up. If the skin is cut open, put some ointment or Vaseline on it.

In the future, please try to avoid squeezing! I know it's hard to control but this is the best way to avoid scars and temporary bruising and erythema. Some tips I'm thinking of off the top of my head.

-Use Retin-A, Tazorac, or other doctor-prescribed topical treatments. It will take weeks to months but the cell turnover is better for the long term.
-Don't use scrubs like St. Ives on your face. Use glycolic or salicylic acid exfoliators instead.
-Don't touch your face because you are transferring all of the bacteria from you hands from wherever you were before (work, gym, etc.).
-Overdrying your face is bad. Wash your face with a gentle cleanser regularly but not so much so that it gets dry, otherwise your face/body will produce more oil to compensate. Moisturize with a non-comedogenic moisturizer after washing your face.
-Try avoiding dairy and junk food in general. There's no hard evidence that food affects acne but some doctors believe this is the case. If it doesn't help your acne, it will help your waistline.

People are going to pick and pop - me included. But it's best to minimize this. If you have to squeeze, clip your fingernails first so you don't use the sharp edges. This can cause scarring! It's better to shower first and then pop - I find it easier when my pores are more open.