Bleeding lumps on squirrels in fall are caused by bot fly larvae (warbles). Flies lay eggs in soil; larvae attach to squirrels, burrow under skin, and emerge in October to pupate.
Distressing but usually not fatal. No practical treatment exists. Most squirrels recover.
Warning: Bot fly images are graphic.

Dodder (Devil's Hair): Parasitic Vine Control
Bee Flies: Important Pollinators and Wasp Predators
Flying Squirrel in Bluebird House: Nocturnal Neighbor
Squirrels Eating Pine Cones: Source of Yard Debris
Flying Squirrels in the Attic: Identification and Removal
Fox Squirrel: Large, Variable-Colored Squirrel of the Southern U.S.
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