This is a yolk sac remmant on the fetal surface of a term placenta, which has no clinical significance. More extensive tan nodular excresences could represent "amnion nodosum" which is a localized accumulation of amorphous material (vernix caseosa) with embedded desquamated fetal skin cells to produce small nodules. Amnion nodosum is more likely to occur when there is oligohydramnios (too little amnionic fluid).