I think you are describing your clitoris. I don't know how big you mean by huge but I doubt you have anything to worry about. This is your external pleasure center so I don't care what it looks like, just what it FEELS like. lol
If you're really concerned you should look up anatomical diagrams or photos of external genitalia. I'm sure you'll see that you're normal.

The clitoris can very very seldom be described as a "huge thing hanging down". It is found right at the front of the slit where all the lips start and it might not be visible at all.

Things seldom look like they do in drawings, diagrams and porn. Many woman have long inner lips (Labia Minora) that hang down from inside the outer lips (Labia Majora). The Labia Minora can hang down as much as a few inches or be totally hidden, it can be wrinkly or smooth, uneven or even, colored from pink to almost black/brown, have uneven coloring, be different from side to side.

In short, no two women is exactly the same and unless there are deformity, the chances are excellent that you are normal.

Another thing; the Vagina is the tube running inside you. You are probably talking about the Vulva.

My advice is to wash your hands, take a mirror and a flash light, lock your door and take a good long look at your genitals and figure out what is what. Peek, poke and pull until you can figure out what is what. You might want to put some lubricant on your fingers like saliva. There is nothing you can break or damage down there and knowing what is going on "down there" will be invaluable to you.