Is this a festoon or just puffiness? (Photo)

The swelling beneath the outside portion of you lower eyelid is called malar edema or malar bag. The cause of this problem is lymphatic obstruction just below the protrusion. It is not a surgical problem as fat is not causing the swelling. Malar swelling is a difficult problem to improve. Options include avoiding salty foods, injections with fillers to camoflauge the swelling and perhaps lymphatic drainage. 

This looks like puffiness. In treating under eyes, a combination approach is best. I suggest a combination approach of lasers, microneedling/PRP, fillers and skin care/peels which can improve this area. See an expert. Best, Dr. Emer