I dropped my transmission pan to change the filter and the pressure governor because I am having trouble shifting between 1st and 2nd. In the pan I found the object in the picture (not the quarter smarties). It is cast metal, non-magnetic. The last time I changed the filter, a shop did it. Is this a tool end or a transmission part? I did not see anywhere it might have come from.

 

thats part of the forward band you must of never had the bands adjusted ,time for a rebuild that wedge is used to anchor the band ,or you backed the adjusting screw out far and it fell out , sorry trans has to come apart

 

That anchor may be able to be reinstalled. This would require dropping the pan and removing the valve body to gain access to the band. You may also find the strut on top of the valve body when you remove it. If you go this route, I strongly suggest adjusting the bands once you get it back together.

 

wow, that's going to a bear to get back in. It'll take a couple of bent wires and a lot of light to see up in there and the VB off is the only way to even think about it. If you can't get it to cooperate in about 30-40 mins of trying, bite the bullet and drop the trans.
You may have some other damage as well to the drum if the band has flopped sideways and grooved it. Chances are good it just stayed put and nothing happened but a 1/2 hr in there messing with it will tell. Also, the band is secured by a pin so if the band has come off the pin AND this end fork has come off, save yourself some time and headaches and just drop it and do the right way.