Bought a bunch of parts over the last year and a half and after going through them, I came across the pictured part and can't figure out where it goes. I must have come across it in some thread or after searching hours/days/weeks for it. So you would think I'd remember, right? Well, welcome to your mid 50's!
Anyway, I do see a red piece that goes around one of the power steering pump tubes into the back of the pump but the Porsche catalog doesn't show that part as replaceable. So that could be it. Or maybe it's not....
It's a Mercedes part # A 111 141 02 42 and referred to as a Clamping Strip.
Onto the pic so if you know what it is, you win a 2000 Boxster S in hundreds of pieces scattered around a messy garage in TN.*
*No car offered, just a satirical statement for dramatic effect.