Not painful. I've been aware of it for months at least, probably much longer. It probably looks worse than usual because I was scratching it the other day...
It's really never bothered me at all. I suppose I just started scratching it because it was there. So no itching, burning or soreness whatsoever.
It's on my back and hard to see (and very small), so I took the photo today and thought "well, that's look weird. what is it?" It's hard to comment on colour, but I think it's basically just skin colour, or slightly pink.
I've never tried any medication for it.