What is this part?

[Four_t_one]

I noticed this the other day when putting air in my tires. It is the rear passenger wheel. From looking at diagrams i think it is a stabalizer bar link? Can someone confirm or deny this. Also haw big of a job is it and how crucial is it as far as does it need to be done now or can it wait? The first one is looking through the rim and the second i reached the phone behind the wheel.

 

[Four_t_one]

the first pic rotated on me, it should be rotated clockwise once to be looking at it right.

 

[lincolnelite]

sway bar link, it's easy to replace. If you can't DIY, a shop normally charge $45-$75 to replace (labor only) You can still drive the car without it, just don't make tight turns.

 

[Four_t_one]

Rock auto does not list a sway bar, is this the right part?
http://www.rockauto.com/catalog/moreinfo.php?pk=1133668&cc=1430713

 

[Four_t_one]

Well now I see it says sway bar on this page, the list called it a stabilizer bar

 

[lincolnelite]

Rock auto does not list a sway bar, is this the right part?
http://www.rockauto.com/catalog/moreinfo.php?pk=1133668&cc=1430713

correct.

 

[joegr]

You should also check your rear toe links. They may be close to failing too. If one fails, that rear wheel will no longer point in the correct direction. Also, I would assume that the driver's side is nearly as bad.