Pretty sure that's your flush hose hook up. I think there's supposed to be something that holds that in place, but it screws off and hooks to a garden hose to flush your motor with clean water after a day in the river/lake. Not sure how that mount is supposed to stay in that hole. It's not a problem, but may beat and band around a bit. Google your model number and look for a parts diagram to see what kind of clip or whatever is supposed to hold it to the motor.
