Usher's son out of the hospital and doing fine.

Usher's son is out of the hospital and sporting a huge bandage on his arm ... after nearly drowning last week -- and the kid's already jumping back into some hardcore playing.

5-year-old Usher Raymond V was spotted with his grandma leaving an indoor play center called Mighty Jumps in Atlanta Monday -- a party space filled with moon bounces and flying children -- exactly one week after he had to be rescued when his arm got stuck in a pool drain.

Lil Usher was looking good ... and brought his baby bro along for the fun too.

Source: TMZ