It is possible that you and your boyfriend are having genital warts due to HPV infection.
Genital warts can be located at the vaginal lips and penile head, as a small flesh colored or pink growths.
Their size and shape can vary.
They may itch, but, generally they don't cause any sensation.
Usually, it takes month or two before the HPV infection become symptomatic.
Only, experienced physician with visual inspection can give the true diagnosis.