Don't have a clue but it might be like a resister or something. It looks like one with some black goo on it. I think i red somewhere that its a heating element and it desides what to do by how the incoming air is cooling it off. I might be wrong though. I know those "chips" that they sell on ebay is nothing more than a resister that you "splice" into the iac line....crap.
ask randy S at www.mustangboards.com He will be able to tell ya, as well as get you a damn good price on a new one if needed.
lol totaly different page lol. Yea that thing is jus a vent cap, nothing happens if you sit there and turn it. lol i've tried. ford tech told me it was a vent cap or someting.
LMAO Thanks VF. I turned it to see what happened then i said "Oh shit maybe i shouldnt have done that"
yea i thought it might be an knob that would turn down the sitting rpm, but i just turned it and turned it and i'm like ????? and a budy of mine said it was a vent cap. lol, i felt like an ass. O0