Welcome to world of Betta keeping! Just fair warning, they are very addictive.
That would be a bubble nest alright. Male Bettas originally build these nests for breeding purposes, but they can also make them quite randomly. Even females have even been know to make bubble nests. Generally speaking, they are a good sign! A healthy and happy Betta is usually more likely to build them. It should be noted that having a male that doesn't build bubble nests doesn't mean he's unhealthy. Some are very picky or just not interested in making them.