I know it's some kind of check valve (allows flow only in one direction) but what the hell is it for????
(http://images.snapfish.com/3379263523232%7Ffp8%3Enu%3D3237%3E%3A48%3E8%3C%3B%3Ewsnrcg%3D32324999%3A662%3Cnu0mrj)
(http://images.snapfish.com/3379263523232%7Ffp3%3B%3Dot%3E2328%3D%3B39%3D9%3B%3C%3Dxroqdf%3E23233%3A8%3A973%3B8ot1lsi)
PCV valve
Ryan beat me to it! PCV valve = goes in the rear valve cover, is that where you pulled it from? :D If so, and it's old, I'd recommend replacing it, does it rattle when you shake it? If not, it's bad. HTH! Also, they're very cheap and good preventative maintenance, if it gets real bad it can allow a tad of oil to seep into your intake.
thanks, and no it's not old. I just ordered it off gmpartsdirect, and forgot what I ordered. My PCV hasn't bee changed for about 150000 miles :shock: , so I guess it's time to get it done.