yup. Cover the end with vaseline, wait until it pokes it head out, pull it out slowly so you don't pop it. Then stomp on it. Squeeze the area to remove any puss. Usually will heal up just fine, just keep on eye on it.
Yes, it is a bot fly or warble. I find them easier to grab on the first try using tweezers then pull steadily. You don't want to fuss around and get it wiggling because it's painful for the rabbit when it moves.