Timmy,That is a rubber  insulator to prevent unwanted contact between metal parts.Available new for about $2.00 from Tee-Bird.Just glues on.  

  

I got the horn ring off but there is a lot of tar like insulator in there. Should I just clean where the button presses down the metal part or should i clean a lot of it out. i figured it might prevent the horn ring from contacting the metal properly.

all you have to do is press your horn ring down and twist 90 or so degrees and the ring will come off once you clean just do the opposite press down and twist again

Not my dads 57 Fairlane nor my grandfathers, young guns are taking over ! REBELLIOUSENGINEERING.COM

My horn only works when I press it on one side of the ring so I want to clean the contacts how do you expose the horn contacks. thanks