Hi, so I was replacing the clutch on my 88 vert, transmission is on the ground and I was cleaning up before I put everything back and I found this guy hanging out on the ground under the passenger side of the car, any ideas???

It has small oval indents around it


And smooth inside

 

Is there a prize?

Looks sorta like a mounting collar for sway bar or tie rod mount.

 

I think it's the center part of your trans mount. It probably is bad and fell apart.
TRANSMISSION MOUNT REAR, 86-88 NON TURBO MANUAL (SADDLE) | Mazdatrix

 

looks like a bushing or mount insert. you will probably hear something that is loose when you drive around bumpy areas or when the transmission moves.