Skin Tag.
That's what I called them when they was on my Boxer. Like Phil said, they are a type of cyst that is usually nothing to worry about. Just need to keep an eye on it. The boxer we had we had to have one removed because it got to be a good size and the vet wanted to remove it...I think he just wanted to rack us money lol.
I think Hoot said his girlfriend has these all over her body. He tried to PM me a picture. It crashed my computer.