No, do you have a clue as to how many chemicals are in nail polish? They are safe for use on nails, but putting it into a piercing could result in SEVERE problems.

If you want a black ring, buy one.

And a hole in your lip is more than a cut on your arm. There are very few modification friendly doctors out there.

Don't use neosporin! It is a petroleum based anti-bacterial. Petroleum based wound care products are for surface wounds only...read the back of the tube or box, they say not for deep or puncture wounds, a piercing is a puncture wound, are they are deep, especially a lip, it goes all the way through. Petroleum based products in fresh piercings causes build up, also, it causes dead skin cells, dust, dirt, and every other small particle to stick to the jewelry, which means it gets in the piercing amplifying the chances for infection.

Can I ask why you didn't go to a professional and have it done the right way, and also to be give proper piercing aftercare directions?