[LunarBerry]

Sounds like excited/submissive pee, like the others have mentioned. My girl does this every so often, like when new people come up to her. She even peed on me once when I held her (first time she did that) when an old friend was visiting lol ^^;; the poor thing came to check on me while I was changing in the bathroom (and whining too).
We've always had dogs that did that, so it most likely is that or ya squeezed their bladders some when picking them up.