This is part #IM 7246-A. This part is located where the rod from the steering column connects to the transmission shift lever. It is rubber with a brass sleeve. It is called an insullator because it's rubber construction prevents the rod from rattling in the connection to the transmission gear shift lever. These photos show the insulator installed in a gear shift lever.

IMG_4934.jpg IMG_4935.jpg

Mine is reamed out with a lot of play in it. This cause a big gap in my shift indicator. Park is in the correct position, but, then I have to shift all the way to between N & Dr to get reverse, etc.

If anyone has been able to find this part, I'd sure appreciate the source information.