Hi Michelle- I have some experience to share with you. I am also the mom of twins (now 9, frat. girls), and the proud owner of 4 ovarian cysts! I am 49 (next week), and have been on birth control to shrink them, and/or keep them from growing for about 4 years. I don't remember how big mine are, but rather large (about fist sized). Mine are different from yours in that they are imbedded in the muscle tissue of my uterus, making removal of the tumor tissue nearly impossible. Yours, being on the outside (some are on the inside) would be easier to remove (i.e. less complicated). I haven't had mine removed because they'd probably grow back. The only real alternative for me is to have my uterus removed, which I don't want to do. So, we're waiting for me to go through menopause, when the cysts will naturally shrink due to the lack of hormones. Since you're so young, that's not an option.
Now that I'm on the pills, I have no pain, and no period, at all! Before, I was in constant pain, and bleeding, heavily, nearly every day. So, this is much better!
However, the pills I'm on (Tri-legest) have not shrunk the cysts, and they have grown some over the years. Since they're not causing any problems for me (i.e. not pushing on my bladder or intestines, or causing pain), we're going to leave them alone. I've had some concerns about being on the pill at this age because of the risk of stroke, but because my BP is good, my doctors don't think it's a risk.
I have a friend who did have a cyst removed from her ovary. It was done laproscopically. She needed about 10 days to recover, I believe. The first few being the worst. Her mom (she's single) came to help her out for a few days. She's much happier now that it's done. No more pain or excessive bleeding. She wanted to preserve her ovary in case she'd like to get pregnant some day, and they were able to do that.
I hope this helps you some. It's a lousy thing to have to deal with, but be glad it's not something worse! Best of luck.