It part of the air bag. Several threads on this, the metal overlays that are (or were) on ebay, are not a good idea as you are adding a projectile, if you ever had a deployment. The best solution is to send the air bag to elite autos, they have refinished several with good results. Others have used stickers, that look like the original gt40 logos.
I see its your 1st post, welcome to the forum. Where are you located? And of course post up some pix of your car.....