Picture isn't that great but maybe somebody can tell me why this piece of metal looks out of place on the back of my trans. I'm scared to take it off and look under it. Is there a hole under there where something should be?

another shot

Rear mount for exhaust downpipe. Whatever is left of it, anyways.

I'd say someone swapped in an early trans to your car. I can see your exhaust pipe runs down the right side. Early cars had the exhaust routed down the center

Ok. Thanks. So nothing under it I have to worry about? I can remove it?

Yes, you can remove it, just be sure to reinstall the bolt as it's one of the rear case to main case bolts.