This is the part of the tilt switch that the turn signal wand screws into. This part is always included when you purchase a new turn signal switch. 1967-69 mechanism has two springs on either side, the 1970-73 mechanism uses just one spring.
There is an active thread on the Classic Cougar Community Forum discussing tilt columns and trouble shooting.
*NOTE* For tilt column service, you can contact Tony Augustine at 6t8cougarguy@gmail.com. Tony is a trusted colleague of WCCC and we've sent many customers his way since our column specialist retired last year.