If you're interested, the gadget is on the side bar below the link lists and blog archive.
Here's how Blogger explains the thingy...
What is Following?
Do you have a favorite blog and want to let the author and readers know that you are a fan? Well now you can do that and more with the Blogger Following feature! You can even keep track of the blogs you follow via your Reading List on the Blogger dashboard.
How do I become a Follower of a blog?
There are several ways to become a follower of a blog. One of the easiest ways is to visit a blog that has added the Following widget and click on the "Follow this Blog" link under the "Followers" widget: