Molluscum contagiosum

Molluscum contagiosum is a viral infection that manifests with small raised lesions of the skin that have a dimple in the center. They are very contagious and can easily be passed from person to person by physical contact. They can appear anywhere on the skin.
The lesions will disappear without leaving a scar about twelve months after they appear. However, for cosmetic purposes, they can be removed with freezing or with laser ablation. This also has the benefit of keeping the infection from spreading to other areas of the skin. There are also topical treatments that can shorten the duration of the lesion, although these often have side effects, such as blistering.
Molluscum contagiosum at Wikipedia