Chinking is generally the more traditional larger profile sealant between logs and is often 1" and greater in height.
Caulking is a smaller profile application, generally less than 3/4" and I applied to d-log style and Sweedish cope logs. Caulking is also applied to seal checks (Cracks) in logs.
Log Jam chinking and Permachink are examples of chinking material.
Conceal Textured Caulk from Sashco and Permachink Energy Seal from Parmachink are examples of log caulking.
Log caulking has elasticity of 200% before failure. Log Caulking has elasticity of 100%.