What is it ?

[Lisa]

These are both under the driver's seat. Idk what they are :/

[Jimco_W001]

The first one is a fuel tank selector valve and second one is a capacitor discharge ignition add on from the after market years ago.

[Lisa]

Oooohhhhh. Thank you. What is a capacitor discharge thingy?

[John "T" Nordhoff]

  I agree with the good Jimco man. Looks like a main and auxiliary gas tank selector valve. It leads to the fuel pump and in one position it sucks gas out of the main tank and in the other from an auxiliary tank (if so equipped). Should be a 3 hose barb unit for 5/16 or 3/8 rubber fuel line with the center the out to the engines fuel pump input and the other two lead to the 2 tanks. On older points and condenser ignitions an after market Capacitor Discharge Ignition unit (aka Thingy lol)  was added which in theory provided a higher energy spark IF IT WORKS???Most can be disabled and it looks like it has an On/Off so the ignition works normally if turned OFF. Maybe it works maybe it doesn't?? If not you can live without it no problem.