Sorry no pics 
I had a moderate sized, about 1 cm wide and 5mm height, I think sebaceous cyst located in between my eyebrow and my hairline. It was the first cyst Ive had in this location, although I did have a nearly identical one on the opposite side of my face about a year before this one appeared 6 months ago. I had to have that one removed by a doctor who used a small incision and squeezed the hell out of it. He had me take anti biotics and basically keep draining it until it healed completely.
For this new one I wanted to try some home remedies before going to the doctor to have it removed again, so I have been doing a combination of a topical turmeric paste and some heat compressions. Last night it came to a head so I started squeezing and drained it completely. I applied some hydrogen peroxide on it because I'm a college kid and that's all I had in my duplex late last night.
When I woke up this morning I had some fear of seeing it refilled or infected or something...but it was not that bad at all. It is reddish and slightly inflamed, and I tried again to drain it and got very little out, so I think I'm on the right track. My question is, what should I do next? Should I cover it with a band aid, should I let it get air, should I apply anything topically?
Any help would be appreciated, just ask if you have questions for me, thanks
I was just about to suggest hydrogen peroxide! I think you should continue using it regularly for about a week, week and a half and see how the cyst does. I had a huge cyst on my temple and still have a small depression from where my dermatologist injected cortisone. It actually left a tiny depression and it's not as noticeable and has become less indented over the past several months, but it was there at one point. You're doing the right thing by slightly draining and coating the spot in hydrogen peroxide. Hydrogen peroxide works best when it can actually go 'inside' and kill the bacteria that is growing and making the cyst inflamed.
Hydrogen peroxide isn't the best idea for a wound as it destroys granulating (healing, pink, good) tissue. Plain water and cleanser is fine. Or a dab of polysporin on a bandaid.
If it really is a sebaceous cyst, it will keep returning until the sac is extracted by a doctor, not just the contents of the sac squeezed out.
Well for the last one I had the doctor told me that he didn't remove it, and that I should keep draining it until it healed, which it did. It hasn't come back to date after about 2-3 years and there isn't a scar where the incision was, so if I can acheive similar results I will be happy.
I am going to get some ibuprofen when I get off work to help the flammation and will probably use hydrogen peroxide a couple more times sparingly. I have drained it a couple more times and haven't got too much out.
Update:
Since the cyst popped 2 nights ago, it seems to be getting better. I have been taking ibuprofen to combat the inflammation. I have also been applying polysporin topically and covering with a band-aid as an anti-biotic. I have been draining the spot about 3 times a day and I believe I may have even pulled the sac out.
Right now the only evidence I once had a large protrusion in that area is a red mark where it used to be, the swelling has gone down greatly since yesterday. I will continue to use the polysporin and attempt to drain it/keep the path to the surface open. So far so good though =)
How's it going man? I was doing my research on sebaceous cysts, came across your post and wanted to know more info about it. I have a quarter sized sebaceous cyst on my neck and got a bit big. Wanted to go see a doctor but since I got no insurance I might get charged a bit. I've taking care of of smaller cyst before and I know I can do it my myself