Yes, this is just what it sounds like: a nano-sized cache hidden in a nano-sized neighborhood park. It probably won't be too hard to find if you've ever seen a blinker cache before, because there simply aren't very many places to look. Please be respectful and don't annoy the nearby neighbors.
Please make sure to replace the cache in the exact spot where you found it.
Oh, and it's probably a good idea to have a paper clip or something with you to help retrieve the log, if necessary. Good luck!