Sometimes a small one goes away by itself. Don’t let them start multiplying without doing something about. More than one in the same area indicates a serious round.
References :

Because treatment doesn’t actually change the course of the infection, it’s not necessarily required. To decide whether you want to have warts removed, talk with your doctor about the risks and benefits in your individual situation.

IMPORTANT! If you are pregnant or planning to have a baby, you should talk with your doctor about getting treatment to avoid HPV-related complications and to avoid passing HPV to your baby. Also, make sure your doctor knows that you are pregnant before he or she prescribes medication for your warts; some medications for warts may cause birth defects.

Don’t attempt to get rid of genital warts with over-the-counter remedies. The genital area is too sensitive for these products and you could damage your skin. Instead, see your doctor, who may prescribe a medicine for you to apply to the warts or may administer one of a number of treatments himself or herself. Medicines that can be applied include podophyllin trichloroacetic acid (TCA) and podofilox (Condylox) which kills the wart tissue or imiquimod (Aldara), a cream that stimulates your immune system to fight the virus. Other options include freezing the warts with liquid nitrogen, cauterizing them with heat or a laser, or removing them surgically. Whatever method you and your doctor choose, you will probably need several treatments.
References :
WEBMD

Depending on factors such as the size and location of the genital warts, a doctor will offer you one of several ways to treat them.

Imiquimod, (Aldara®) a topical immune response cream which you can apply to the affected area
A 20 percent podophyllin anti-mitotic solution, which you can apply to the affected area and later wash off
A 0.5 percent podofilox solution, applied to the affected area but shouldn’t be washed off
A 5 percent 5-fluorouracil cream
Trichloroacetic acid (TCA)
pulsed dye laser
liquid nitrogen cryosurgery
If you are pregnant, you should not use podophyllin or podofilox because they are absorbed by the skin and may cause birth defects in your baby. In addition, you should not use 5-fluorouracil cream if you are expecting.

If you have small warts, the doctor can remove them by freezing (cryosurgery), burning (electrocautery), or laser treatment. Occasionally, the doctor will have to use surgery to remove large warts that have not responded to other treatment.

Some doctors use the antiviral drug Alpha Interferon, which they inject directly into the warts, to treat warts that have returned after removal by traditional means. The drug is expensive, however, and does not reduce the rate that the genital warts return.

Although treatments can get rid of the warts, they do not get rid of the HPV virus, so warts can recur after treatment. However, the body’s immune system typically clears the virus anywhere from 6 months to a year.[1] There is even some suggestion that effective treatment of the wart may aid the body’s immune response. An effective HPV vaccine is currently undergoing a phase III FDA trial and appears nearly 100% effective against the most common types.
References :
http://wikipedia.com