Ring worm or Poison Oak. Trust me when I tell you that whatever you do, DO NOT pull yer' pud while in this condition. THAT will NOT end well.

Did you burn the bag?

Personally, I'd tuck that bag aside for when a good fishing buddy needs to borrow one. Being a good friend like that is what makes the world go round...:)

Seriously though, if it's poison oak, soak & lighly scrub your hand in straight gas for a few minutes each day. It breaks the oils down better than anything else (an old Mid West Poison Oak and Ivy trick). You'll smell like gas, but your heal time will be half that of anything else - even prescribed ointments, creams etc...

Good luck,