  We present a simple inflationary scenario that can produce arbitrarily large
spherical underdense or overdense regions embedded in a standard Lambda cold
dark matter paradigm, which we refer to as bubbles. We analyze the effect such
bubbles would have on the Cosmic Microwave Background (CMB). For super-horizon
sized bubble in the vicinity of the last scattering surface, a signal is
imprinted onto CMB via a combination of Sach-Wolfe and an early integrated
Sach-Wolfe (ISW) effects. Smaller, sub-horizon sized bubbles at lower redshifts
(during matter domination and later) can imprint secondary anisotropies on the
CMB via Rees-Sciama, late-time ISW and Ostriker-Vishniac effects. Our scenario,
and arguably most similar inflationary models, produce bubbles which are
over/underdense in potential: in density such bubbles are characterized by
having a distinct wall with the interior staying at the cosmic mean density. We
show that such models can potentially, with only moderate fine tuning, explain
the \emph{cold spot}, a non-Gaussian feature identified in the Wilkinson
Microwave Anisotropy Probe (WMAP) data by several authors. However, more
detailed comparisons with current and future CMB data are necessary to confirm
(or rule out) this scenario.
