I thought I'd find out what it is, 'cause it sure isn't a pull tab to wind up the spring... like the 70's Evel Knievel cycle with the pull strip that wound it up.
I was told it's mostly just a fashion accessory, but can be used as a tow ring in the event of a nose dive into a ditch. I think you've get bigger problems in the event that the only way a tow truck can get your ride out of a ditch is to use the red anodized ring.
I bet it's really tempting for this guy s friends to refrain from getting a rope through that ring and tie his car to a telephone pole (a la American Graffiti)
