What the heck is this?

My valve body is like that.
It has been modified to a reverse manual valve body, and the throttle pressure lever isnt used in this particular case.
The shaft you show doesn't appear to have had a lever on it for a while because of the rust.
If you can talk to the previous owner, or someone who may have rode in the car, see if they remember it needed shifting to change gears.
If drivable, with the un-knowns, don't boot it in case it fries the trans.
A reverse manual shift will have 1st gear with the shifter in Drive, and won't shift to 2nd till you move the shifter to "2".
It won't shift into High till shifter moved to "1",.
If you move shifter to "1", with a manual valve body, it will be in, - and try to move in high gear, and have difficulty moving the car from a stop.
That's the overview .
Don't go for a long drive, or "boot it" till you figure this out .
Get it running, see what you find, let us know.
Good luck .
Thanks for the info it makes sense!