Ford 500 fender removal problems

I'm removing the right fender in my car and I've stumbled upon something that I don't recognize and don't know how to remove. I know how to use tools but I'm somewhat a novice when it comes to fixing cars. I'll be providing links to two pictures so you can see what I am talking about.

http://i45.tinypic.com/18p5kl.jpg
http://i45.tinypic.com/zufeys.jpg

Any other tips in the removal of this fender would be greatly appreciated. Thanks!