I am taking off my right side muffler. What do I need to unbolt? What are the steps? Also what is the large orange thing that has a bracket connected to the muffler tip. Please reply fast.

 

This post over at the Mustang Source will help you out. It's really not too bad. The thing you are talking about is to balance the exhaust and reduce vibration.

http://forums.bradbarnett.net/index.php?showtopic=43031

 

there are three brackets. Unbolt all from frame THEN slip off muffler. The back bracket is weird, has a rubber strap. That "thing" is a harmonic balancer, help eliminate exhaust vibrations and drone. It is bolted to the muffler itself, so you don't have to worry about it. Leave it alone. Last thing to do is unbolt clamp that holds muffler onto over-the-axle pipe. You may need to spray some bolt loosener on that to get the muffler free.