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PCA Member since 1988
Join Date: Feb 2018
Location: SW Washington State
Posts: 4,638
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That's an ignition noise suppressor. You can safely delete it. Modern audio systems do a good job of filtering out ignition noise, so you don't need those anymore. If you're old enough, you will recall hearing a noise on olde analog radios when the station signal was weak that rose and fell in time with RPM. That was ignition noise being transmitted through the air and through the wiring harness.
Throw it in your box of parts that "maybe I'll need someday if I do a concours restoration." 
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1973.5 911T with RoW 1980 SC CIS stroked to 3.2, 10:1 Mahle Sport p/c's, TBC exhaust ports, M1 cams, SSI's. RSR bushings & adj spring plates, Koni Sports, 21/26mm T-bars, stock swaybars, 16x7 Fuchs w Michelin Pilot Sport A/S 3+, 205/55-16 at all 4 corners.
Cars are for driving. If you want art, get something you can hang on the wall!
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