Hi there and thank you for using Petco Pet Education Center, formerly Petcoach! At the base of the penis, in neutered and unneutered male dogs, a gland called the bulbourethral gland. This is quite common and nothing to be concerned about. Based on the picture you have provided, I would say that this is what you are seeing and is nothing to be concerned about. I hope this helps! Please let me know if you have any other questions or concerns and I would be more than happy to help you further.