While working on my exhaust, I found a piece of plastic stuck in / hanging out above the center heatshield, roughly where the the rear pipe starts and the rear oxy sensor sticks out.

See the photo below.

What is it? Do I have a big hole in the car above the heat shield now that this used to cover?

 

It looks like a piece of a splash shield.

It might no even be from your car but from rolling over some debris.

Based on the shape of it I'd say (if it really is from your car) it's a piece of a shield from inside the one of the front wheel wells.

 

Interesting thought... there is a piece missing from one of the shields. Maybe it broke off and got thrown up in there. It was way in there, for sure... had to be a lucky shot at highway speed.

So there are no plastic shields hiding about the heat shields then? Seemed odd to me too.

 

Is there even any harm having no splash shield? One of mine is hanging right behind the front end shields. I was told there was nothing to attach it to

 

If it is a plastic shield, it is to block water spray. Not having it won't hurt over the short term, but long term, meaning years, the body may start rusting before a car that has that shield.

If it is a metal shield, those are used on the exhaust to stop heat from cooking the body, which may cause the paint to peel. But they also help to keep the heat from getting into the passenger compartment.

Overall, they may not seem that important, but they do help make the car last longer. Think of it this way... a manufacturer is not going to spend one penny extra on a car if it is not needed.