Pretty sure those are parts of an exploded ignition switch.

 

That's what I was thinking too. Thanks for all your input!

 

Doesnt the back of ignition cylinder fit right into the platic housing. Looks like it

 

Not sure Kalli. It looks like the rear section that is in the ignition switch, but I didn't want to tear it appart to see. The rear is also covered with the rubber plug that houses the wiring.
I assume since my ignition works fine that the previous owner changed something out and didn't do a very good job of cleaning up afterward.

 

ya, thats really what it looks like. part of an ignition switch that you don't need anymore. since noone recognises it as a mustang part, who knows, the PO could have used an ignition switch from _any_ other car