Thanks everyone for your input . My regular vet ( another was on call when the bump was discovered) had a chance to evaluate the situation today and said that since she had just calved 6 weeks ago that during the event she was experiencing her first heat. He said that her muscles in that area may still be weak and assumed she had been bred to a bull with a large birth weight ( she was sold to me as a mini jersey , but she looks more like a small standard jersey) His advice was to not sell at this point and to let her cycle a few more times. If this were to happen again , he said selling would be the smart choice. If it does not happen again he said we will reevaluate her.
It was super round, like a bubble, and not tube like at all. The possibility of this being a cyst instead of a prolapse is making me feel hopeful!
As far as the snarky comments, I'm not getting into the cattle business, she is a family cow/pet. I'm not looking for an answer that suites my preferences, rather the opinion of folks who are extremely knowledgable about a subject I am new to. She has been under the treatment of a vet and the vet even knew I was getting her before she arrived . I'm not interested in getting into the cow slaughtering business either. I don't eat em , I just milk em! Thanks again to everyone who has been so helpful, I sincerely appreciate you taking the time to talk with me about cows!