Mystery part found, can you id it?

[Mr.FrankSmith]

So I was breaking down my 49cc a bit to try and pinpoint the cause of a quite annoying pinging sound I originally figured was the chain slapping the fame a bit. When I took the spark plug out to check that since I can't access that with the motor mounted I found this mystery part, and for the beck of it here's a pic of the plug, I think it looks alright but I'm no expert...
Also what's with the crappy exhaust sealant? I should have taken a pic of that too but it seems to have failed because there's a bit of carbon where the gasket should be, and the bolt on the top right wasn't as snug as the rest such I hope takes care of that darn noise. (I hear that loose headers can cause a ping in motorcycles so I'm hoping this is a similar case.) I know I probably forgot a bunch of obvious info I should have included so let me know what I forgot...

 

[The_Aleman]

Plug looks good. The part sorta looks like a brake arm pivot bushing. Hard to tell, but it does look a little familiar LOL

 

[Mr.FrankSmith]

I think it may have been inside my socket, I poked out a rubber sleve out of it and I found that it matched up with the inside of the rubber and probably fell out onto the motor while taking it out. Still, I'm going to keep an eye out for where it may have gone. Thanks for the reply.

 

[Cavity]

I am 100% certain, that is a Springtap Override Fitting. Be careful replacing it, if not, you can damage the left side of your Tri-shaft Exhaust Flange.
Good luck!

 

[Old Busted Hotness]

That bushing is one of three that locates the shroud and recoil starter.

Plug looks good.

Exhaust leaks are pretty common, because there's no quality control on the headers. The flanges are nowhere near flat, and trying to fix it with a fat gasket & lots of torque just makes the problem worse. Take the header off, hammer and file the flange flat, and reassemble with copper silicone, paper gasket and moderate torque.

 

[Mr.FrankSmith]

I am 100% certain, that is a Springtap Override Fitting. Be careful replacing it, if not, you can damage the left side of your Tri-shaft Exhaust Flange.
Good luck!

Sounds like I might be able to find one at home depot, probably between the sky jacks and vinyl stretchers?

 

[Mr.FrankSmith]

That bushing is one of three that locates the shroud and recoil starter.

Plug looks good.

Exhaust leaks are pretty common, because there's no quality control on the headers. The flanges are nowhere near flat, and trying to fix it with a fat gasket & lots of torque just makes the problem worse. Take the header off, hammer and file the flange flat, and reassemble with copper silicone, paper gasket and moderate torque.

I've made a gasket from cardboard and covered in oil over night, I figure it wontblast long but ot should last long enough to tell if that was the problem.
Id like to thank everybody for their input and quick response time, you guys are awesome.