Transmission fluid change, loose part found
#1
#2
#3
It doesn't go anywhere. It's a leftover part from assembly. I believe it's used to keep dust and garbage from getting into the trans while they're putting it together. It can be thrown away.
#4
Those guys are correct, the transmission is shipped to the factory w/o the dipstick tube in place. On the assembly line a highly skilled UAW member pushes in the dipstick tube and the "rubber" ball simply falls in the pan. While this causes an alarm to go off in your head, the dude at the "quicky lube" or "transmissions R Us" shows it to somebody's wife/girlfriend/side ho and sells her a transmission overhaul.
#7
CONGRADULATIONS! You need to bring that part to your nearest Ford dealer to decode the secret code on the o-ring! You could be the lucky winner of a 1974 Pinto!