Looks like a mechanical water temp guage. Or maybe a mechanical pressure guage? Something aftermarket. If you follow the "wire" (its actually a small copper tube) it should go through the firewall and to a gauge (or maybe whats left of a guage) inside. If you dont need/want it anymore, just remove the whole sender and put a (1/2 inch?) pipe plug in there.
The actual coolant temp sensor is in the pic, at about the 7 o'clock position of your red circle. Electric sender. Single wire hooks up the that stud. Normally you take the temp from the driver side head, but the intake works just as well.