The rubber around it is purple. It is located by the brake junction box.
95 Firebird 3.4 no TC
Wire Colors In Order: Black, Red, Red w/ Balck Stripe

Picture of location:
http://i73.photobucket.com/albums/i207/DaggerMS/IMG_3202.jpg

Any ideas on what it is?

Over 2 years ago I asked the same question here. Never got a response, and never figured out what that wire was for. Glad to see someone else has the same wire that goes nowhere. At least I know I'm not the only one :lol:

Let us know if you figure out what it's for.

Alright, well after discussing it with some other people on another forum I frequent, we came to the conclusion that it is the harness that plugs into the AIR pump, which was only on the cars with manual transmissions. So, it's nothing to worry about. Solves a mystery for the both of us. Hope this helps.

Holla ill keep that in mind. Thanks man!