04 STi rear suspension spilled its guts

[etshulda]

How important is this crap?

[SeattleJeremy]

What is that made of?

[etshulda]

The finest German Sheep Intestines. It's rubber or something, you haven't seen it before?

[SeattleJeremy]

My initial thought was the rubber fender cover, but that's clearly pictured, and still attached, on the outside of the fender.

Sometimes springs have rubber liners on them to reduce noise.
If you pull on it where is it coming from?

Try to find this peace of material on the other side of the car.

[Bahamabob]

If you feel inside the fender lip you will see that it has a sort of filler in it to keep water and junk from depositing in the fold. This may be it. Bahama

[ZACK777]

+1 That looks like the coating on the spring, only used to keep the squeaks down and maybe keep the spring from rotating on the landing if that is even possible
Not a big deal just expect some additional squeakage

[etshulda]

My guess was to keep the noise down as well. I don't remember this on my WRX so I think I'll just cut it off but I'd like to know if it's important. I don't mind a little squeak the suspension sounds like it explodes every time I run over a nickel. I think I'll post this up on iwsti and see if anybody has had the same problem. 36 views here and no takers. Anyway, thanks for the responses!