Hard to see there, but if it's a shiny green bubble, it's probably Valonia bubble algae.
Can spread and become problematic, so best to remove.
Try to get it out without breaking it open.
If the coral wouldn't be stressed out too much, pull it out of the tank and remove the bubble in air rather than pulling it off in the water.
Bubble algae build up spores inside of the bubble, so if you pop them, out goes a bunch of spores to grow new bubble algae. Little issue if that happens in air, but could be an issue if it happens in your tank.