Hello, thank you for using Petco Pet Education Center, formerly Petcoach. This appears to be a small wart like growth, or small tumor. These can be quite common on older dogs. I would clean the area with peroxide & apply some topical antibiotic tonight, & have Sadie seen by your veterinarian at your earliest convenience. It may be nothing at all, & only requires observation, or it might be best to remove the growth to prevent bleeding episodes, but it does not look too serious. Hopefully, all will be well soon. Take care.