What are these parameter name annotations in my VS Code editor called, and how can I enable/disable them?

Those are Inlay Hints. You can enable (the default) or disable them with the setting:

Editor > Inlay Hints: Enabled

or change the Font Family or Font Size by searching for Inlay Hints in the Settings UI.

And there is finer control for parameter names/types, variable types and more for js/ts files.

For a lot more, see the release notes v1.60 release notes:

The most significant new tooling feature in TypeScript 4.4 is inlay
hint support. Inlay hints add additional inline information to source
code to help you understand what the code does.

Parameter name inlay hints for example show the names of parameters in
function calls:

parameter inlay hints

This can help you understand the meaning of each argument at a glance,
which is especially helpful for functions that take Boolean flags or
have parameters that are easy to mix up.

To enable parameter name hints, set
javascript.inlayHints.parameterNames.enabled or
typescript.inlayHints.parameterNames.enabled settings. There are three
possible values:

  • none — Disable parameter inlay hints.
  • literals — Only show inlay hints for literals (string, number, Boolean).
  • all — Show inlay hints for all arguments.

In addition, VS Code also offers inlay hints that show implicit type
information in your JavaScript and TypeScript code.

Variable type inlay hints show the types of variables that don’t have
an explicit type annotations.

Settings – javascript.inlayHints.variableTypes.enabled and

variable type inlay hints

[And more at the release notes link.]

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