Yes it is an ingrown toenail - hurts pretty darn bad, I've had two. Don't go to the ER it's not an emergency, call your doc and make an apt. they will set up a consult and you will have to have it removed, since its that bad. They will numb your toe with a couple different shots and just go in and cut it out, it'll take about 2 wks to be back to normal and it won't grow back.
If you cut it out yourself - 1 it hurts worse, and 2 it comes back in a few months, b/c the Dr. can get down to the roots of your toenail where it is growing wrong - you can not.