This paper presents a comparison between finger and neck photoplethysmography (PPG) in order to assess the potential and limitations of this, non-conventionally used, body site for application in pulse oximetry. PPG signals were recorded at both sites from healthy subjects to inspect the differences in average waveforms, as well as in oxygen saturation (SpO2) and heart rate (HR) estimation. The results show significant differences in the average PPG pulse waveforms for different contour features such as diastolic or dicrotic notch amplitude, among others. The results show that the HR estimated from signals obtained with the neck sensor are strongly correlated to the output of the reference finger (R=0.862, MAE=1.27 BPM), whereas SpO2 measurements are not that accurately predicted (R=0.129, MAE=11.7%). Spectrograms under different breathing conditions revealed that the respiratory frequency is more predominant in neck PPG than in finger, which has a great potential for respiratory rate (RR) extraction. These are very promising results for the suitability of the neck as an alternative location for monitoring of respiratory diseases, and specifically for sleep apnea.