Like mysunnshine said that is one of the check valves for the Pulse Air System to prevent exhaust gases from pushing back into the air cleaner. Check out this site:
https://gleebledorf.com/pulseair.html
You probably have two of them, one on either side of the block in about the same position. Looks like you are missing the air valve and hose that connected back to the air cleaner. When they system worked one side fed air to the downpipe below the manifold and one fed air directly to the cat.