I took my transmission pan off today to change the filter and fluid. It's been acting up a little to where it seems to rev up a little higher in first than normal and if it shifts to second and you get on the gas at all it shifts back to first and will search for the gear a little. After that or if you drive it easy through the first to 2nd change it does great. People told me to try changing the filter. Well, I pulled it apart and this was in the bottom of the pan. It doesn't look broken off which is what confuses me. Any idea what it is or where it goes? I know nothing about transmissions and this is my first fluid change.

 

That looks like the anchor to the front band of the Tranny. Check the service manual on pg 2141 its the lower left hand picture, Item number 3.

here's the link to the service manual: http://www.rm-indy.com/wavefiles/2001ramsrvcmanual.zip

I can't cut and paste the sevice manual becauseI don't have the full adobe version at home, but somebody may be able to confirm this.

 

It's definately the front band anchor : I'm pretty sure you can re-install it with the trans in place but I think you have to remove the valve body to access it. Hopefully there has been no damage to the band. Did you just get this truck because I wonder how long it could have been this way ? I think this happens because the band adjustment was done improperly (unless the band strut or the lever is damaged or broken).