No, do not squeeze this! That could introduce infection into the area and make the problem worse. It could be that Taxi has a cyst, a benign tumor, or a malignant tumor. Any suspicious lumps should be examined by the vet. The vet can perform a test called a fine needle aspirate on it. To do this, the vet sticks a small needle into the lump to get a sample of its cells, and examines the cells on a slide under a microscope. It's usually painless to the animal, and relatively quick to perform. Once the cause of the lump is diagnosed, the vet can discuss treatment options if needed. I would take her into the vet on Monday. Best of luck.