Skin tags, as they are commonly referred to, are medically termed acrochordon or fibroepithelial papillomas. They are one of the most common benign skin neoplasms.
Skin tags are flesh colored to dark brown and are commonly located on the face,neck, arm pit and groin areas. Skin tags can be singular, but commonly present in groups and are quite small in size, usually ranging from 1 to 4 mm.
There is no specific cause of skin tag development, but having diabetes, being pregnant or overweight as well as 
certain internal conditions may be responsible for skin tag development. It has also been suggested that skin tags may develop due to rubbing or friction about the areas of involvement, such as automobile seat belts, collars, jewelry and clothing.
Skin tags are usually not an issue for the individual unless they become irritated, then they may become quite painful and inflamed, as well as bleeding. Skin tags can become irritated by simple everyday activities such as clothing or jewelry rubbing, shaving of the armpits whereby the skin is nicked and bleeds.
Skin tags can be treated many ways:
A few treatment options include freezing of the lesions with a cold compound called liquid nitrogen, but this can cause blister formation as well as increase healing time due to the surrounding skin being treated as well. Liquid nitrogen may result in discoloration of the skin once it has healed. This discoloration may or may not fade out with time.
Hyfrecation, or treatment with an electrical cautery device, commonly used in dermatology offices is an efficient and safe way to remove skin tags. Hyfrecation too, can leave discoloration if the adjacent skin is treated as well, but is usually more efficient than liquid nitrogen.
Skin tags can also be removed by excision. This involves the use of a small pair of surgical scissors that are placed at the base of the skin tag and they are snipped off. Any bleeding associated with skin tags is usually none to minimal and can be controlled with pressure, aluminum chloride application or hyfrecation. Scissor excision of skin tags results in a clean, neat removal that heals quite well, leaving little to no residual discoloration.
Although skin tags are benign skin lesions, they can become symptomatic and cause pain and irritation that requires their removal.
Skin tags do not usually come back, however, if you are prone to getting them, it is not uncommon for you to develop new ones in the same areas the lesions were removed. Make sure that your health care provider gives you all treatment options and points out the most appropriate treatment for you.