What is this part?

I was fixing my car, replacing the spark plugs, and I noticed that this part had come out of the oil reservoir. I’m not sure what it is, and would appreciate anyone who could tell me.

The car is a '96 Chevy Tahoe 5.7 L

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Out of the valve cover and into the intake? That’d be a PCV valve.

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Probably more in depth than needed, but…

http://www.agcoauto.com/content/news/p2_articleid/197

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I’ll second that PCV Valve

Valve cover grommet looks shot also so not sealing tight - may be contributing to all the gunk around it.

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New grommet, $5.00

New PCV valve <$8.00


(the one that LOOKS like it fits, says it does not, but…)

Well, crap. I couldn’t make YouTube stop after the funny bit.