These are hair follicles growing around the ring (aka “the pink quarters”) of the nipple. They can grow to disgusting lengths and despite folklore can grow on women’s boobies. It is not quite a boob, not quite your pubs but it’s your “bubes,” the name for your nipple hair.
Bobby: "Hey you really need to trim your bubes."
Jill: "Oh I know you like to get lost in my bubes."