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5.0L (1979-1995) MustangTechnical discussions on 5.0 Liter Mustangs within. This does not include the 5.0 from the 2011 Mustang GT. That information is in the 2005-1011 section.
I believe that is the ground wire that should or used to have an eyelet on it and attaches to the back of the cylinder head or if it'll reach an intake stud
well, i tried to take some better pictures of the connector itself. Its contoured, and it looks like it was supposed to plug into something as is. It doesn't look like an eyelet connector.
if its on the o2 harness itself there is only the the 3 main connectors and the low oil sensor....my money is on the low oil sensor since the picture doesnt look like the other 3 connectors.