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Info from AllData Pro and Ford Service Manual:
PCV VALVE
1997 Ford Mustang 3.8L EFI 6cyl
The PCV Valve is located:
Under hood, passenger side, rear engine area, mounted on top rear side of valve cover
My PCV valve is in the same location, rear of pass side VC, 1995 V6 3.8. The driver's side is the crankcase "breather" and the air line goes into the air intake hose between the TB and MAF.