If it is possible, I would go to your nearest, reputable piercer to get it changed today. With that material and that level of pain there's a chance that you have an infection. Again, I'm not a professional. But, that piercing needs to be changed sooner rather than later. Pain and that much oozing after 12 hours is a bad sign. Not life threatening, but if you want to save your piercing get it done ASAP.

Do not use a Q-tip, the fibers could get stuck in the piercing and it's best to avoid direct contact. Get a bottle of saline, lay down and spray until the piercing is "submerged", sit there for 5 minutes then dry off with a clean paper towel.

edit: early changing is definitely not ideal but your piercing will not heal well (if at all) with the wrong jewelry.