Polycystic ovarian syndrome is a hormonal problem that occurs during the reproductive years. If you have PCOS, your periods may not come very often or may last for several days. It is also possible that your body has too much of the hormone androgen. In PCOS, many small sacs of fluid form on the outer edge of the ovary. These are called cysts. The small, fluid-filled cysts contain immature eggs called follicles. The follicles do not release eggs regularly.