Looks like the strip that goes in the channel under the rear of the hood, just above the firewall. Originally, there were small holes in the channel and "nails or brads" were used to secure the strip. During my restoration, the holes on my car were filled and the channel was painted with the rest of the car so I used weather stripping adhesive to secure the the strip in the channel. If it's not that piece, from the looks of it, I have no idea where it goes.