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2nd Gen Ram Tech1994-2001 Rams: This section is for TECHNICAL discussions only, that involve the 1994 through 2001 Rams. For any non-tech discussions, please direct your attention to the "General discussion/NON-tech" sub sections.
I have got the same thing i think. It is like part of a circle about a 1/4'' thick i'm in school now but when i get home. Ill take a picture of it. And post up here.
That snap ring helps with proper OD engagement, sooner or later you'll have issues with dropping out of OD for no apparent reason, or not properly shifting into OD. For now, I'd lockout OD to prevent further damage.
Take it to a shop and have them replace just that ring, not do a full rebuild. They should be able to pull the OD unit off the trans without dropping the whole unit, IIRC. Do it sooner rather than later, or more damage may result from sloppy engagement or falling out of OD which will cost the price of a rebuild.
This is what i found when changing the transmission fluid. The thick plastic one was in the transmission filter and the thin metal was found attached to the magnet on the pan. I dont know how to just post the picture not in a attachment sorry.