It's hard to tell what that is without the picture, but I can tell you that air shows up BLACK in XRs, and bone/dense substance shows up WHITE.
See if you can upload the picture using tinypic.com and then posting the think.
A likely case, if you are experiencing pain, is that you have a blood clot that's obstructing blood flow to a part of your lung. The severity of this depends on the size of the clot and how far it's progressed. The further in it goes before it jams, the better, actually, because then a smaller part of the lung dies from lack of oxygen.
If that is the case, you'd be better off not worrying too much about it. It's moderately common and, if treated, will likely not cause any life-threatening emergencies. Especially since it's under your left breast (indicating that it's progressed pretty far.)
Again, this is all speculation until the doctor confirms the results. Try to upload the picture if you can, though.