Piece of flesh hanging out of belly on?

I got my belly on pierced in August and it never has really gotten infected. It was a little red while healing, but all in all it has been fine. I use dial soap and put the ointment on it that my piercer gave me. But yesterday, when i went to normally just disinfect my bar, i noticed the bottom of the piercing was almost black (dark purple). I didn't think anything of it and today my piercing was pussing blood. I took my ring out to clean it and now I can't put it back it. It's almost like there is a piece of flesh hanging out. It's like a red bubble, but when I try to grab it it just looks like puss....but it's not. What is it? Should I go to the doctors to get antibiotics?