What does this do?
 

Located close to rear sway bar and tranny. Adjustable to three positions. Was in the middle position. Is easily moved forward and backward. What is it?http://986forum.com/forums/uploads02...1599158387.jpg
http://986forum.com/forums/uploads02...1599158479.jpg

Isnr that your gear selector pivot arm? If so it will have cables connected to the top out of shot.

Thanks. What does it do?

Does the rest of it look like this?

https://images.app.goo.gl/qV9HCr1nC5LDJe7U7

When you move the shift lever, that movement is relayed to the arm in your picture by cables. So when you are shifting gears, that arm pictured is moving. The center pivot of the arm is a shaft that goes through the transaxle case and moves the internal shift forks that actually engage the gears. There are two of these arms, you can see the second one above and ahead of the one in your picture.

The round piece is a counter weight attached to the shift lever.

Yes, it does. I moved it forward and backward but then returned it to the center position which is where it was when I started (neutral?). Hope I did not mess anything up.

Thanks.