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Its the "loop end" in the second picture. Thats the end of the cable. Seems kinda silly to have the emergency release cable there, since you have to open the front trunk to remove the headlight. If you can open the trunk to remove the light, then you probably didn't need the emergency release.

I suppose you could get to it through the wheel well if you had tiny hands and long arms, lol!
Anyhow, it was super easy to re-route it to the tow hook hole. Just used a coat hangar with a small hook bent into the end. Hung the cable through the slot beind the front bumper(had to remove that black plastic guard) and fished it through the hole with the hook.