I had a little buckling born about a week ago and he has two little pieces of skin hanging from his jaw/neck. I think I remember someone calling them milk glands one time but I don't think that's correct.
Cute little guy! Yes, those are wattles. As for the milk gland - you might be thinking of milk goiter, which shows up as a lump under their jaw/neck. Nothing to be worried about if - it just means the kid is getting a lot of momma's nutritious milk! It is sometimes confused with bottle jaw, but that is a swelling more toward the front of the jaw, under their mouth in the chin area.