Hi Trey,
Thanks for your question.
I need to be very clear that based on the picture alone, I cannot tell you what this lesion (bump) is under her fur. I can only speculate and provide thoughts but to truly identify the nature of this lesion, I strongly recommend a visit to your veterinarian so that they can perform a physical exam and appropriate diagnostic tests to confirm a diagnosis.
A lump that looks like this in this location could be a number of things. Possible causes include an umbilical hernia, tumor, infection, allergic reaction, and embedded foreign body to name a few.
Whenever we find a lump of any kind on a patient, there is a common test we perform in order to try and identify it. This is a quick test called a fine needle aspirate. Your veterinarian can use a syringe to collect cells from the area and then transfer them onto a slide that is sent to a pathologist. They can examine the cells and try to determine what type they are. In doing so, they can classify the mass which will assist your veterinarian in formulating an optimal treatment option. I encourage you to watch our video, about addressing and checking for lumps and bumps in dogs and cats for more information on this topic.
I hope this helps. Good luck.
Dr. Clayton Greenway