What is the fat bulging from the outer corner of my eye? (Photo)

Great question!  Many people develop bulging fat pockets around the eyes as a process of aging or just your genetics.  A better photo to show the fat pockets on the lower eyes is straight on with the eyes looking upward.  In the right lighting there are usually three fat pockets on the lower eyelid that show up.  Please make a consult with a cosmetic surgeon with experience working on the eyes.  Sometimes the fat can be removed without making a skin incision!  Good luck!

there are few structures in the corner of the eye. One is caruncle and the other is Plicae Semilunares. So it may be inflammed and get enlarged but they are not fat. 

Sometimes, people will develop a bulging of the normal fat around the eyes as a benign condition called orbital fat prolapse.  Your photo indicates an unusual location for this condition.  Please schedule a consultation with a board certified ophthalmologist to examine your eyes as soon as possible.  Keep us informed of your case.  Good luck!

Your photo shows what is typically fat that has herniated forward.  It could be other causes as well to include: lymphoma (cancer), prolapsed tear gland, cyst, and other various causes.  I would recommend you have an ophthalmologist look at it to be sure.  My youngest cancer patient was a 3 month old, so you never know.  Best Regards.