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Kinda looks like a heat tube that runs from exhaust manifold to choke sensor...but if that's rubber on the end...then it's more than likely a vacume hose. Good luck...let me know what you find out. How's your rig run?
My Doc was very close...it is the fresh air tube to feed the exhaust to choke tube. The end with the rubber line and metal nipple goes in the carb and the other end either rusted, corroded, or just broke off the exhaust. There should be a round fitting on the exhaust with the other end of that tube in it.
Could that be why the choke doesn't work? I have to spray starter fluid in it to get it to start when its cold. Other than that it runs as good as I would expect a 23 year old truck to run.
A tube feeds warm exhaust to the choke sensor and the spring in the sensor reacts to the heat...this opens or closes your choke. Mine rusted off...it's somewhere in the mountains of Idaho or Oregon..I went and installed an electric choke...haven't had a problem since. You could also install a manual..just remember to push the accelerator all the way to the floor before you pull the choke out.