thanks for posting your query on healthcare magic
The small ball type matter on dorsum of your baby's penis is most probably a sebaceous cyst
though i would like to see it to confirm the diagnosis as there can be different kinds of pathology affecting this region .
This is a common area to have sebaceous cysts. They are absolutely harmless till they get infected , but definitely a little unsightly.The appearance is usually white or cream in color and are smooth little domes that stick up above the skin.There can be variation in size from quite tiny to the size of a much bigger.
The content of these sebaceous cysts is a a cheese-like material known as sebum which is made of breakdown products of skin tissues including keratin
I would suggest you to visit your physician to confirm the diagnosis .
The only satisfactory way to get rid of sebaceuos cysts is to get them surgically removed along with their punctum. Once properly done there is no recurrence at the same site but other areas may develop them.Cleanliness is a must to avoid them.
The surgical excision is a simple procedure that can be done under local anaesthesia
So donot worry, and visit your doctor to take a look, to confirm what I have told you and get it treated accordingly