yeah they pull it out when they pull the bubba out
i had twins and it was my DH job to carry the placentas down to the nursery in plastic bags so that they could inspect them to make sure they were in tact. Go DH!!! He said that they were still very warm!!!

I also had very little bleeding afterwards - and it was really only spotting for about a week or so and that's it!

HTH
odette