I'm not sure of the official name of that thingy, but I would describe it as a pressure differential switch. The way I understand it is that there is an electrical switch/circuit in this thing that will close and turn on the check brake light if there is a large enough pressure difference in the front vs rear hydraulic circuits (i. e. a major leak somewhere). My truck does not have ABS, but it does have that part in your pic. I am with Joe in that it is probably not serviceable, but what the heck, might as well give it a try. Maybe a good idea to have a line on a replacement one prior to attempting to dissasemble it. Probably expensive from the dealer so I would go with a used one from a salvage yard. One other note I can add is that there was some special procedure outlined in the factory service manual regarding this thing and brake bleed procedure. I don't remember the details but it had something to do with pushing and/or pulling on the plunger in the center top (and maybe bottom?) when bleeding in order to allow air to pass through.
-Deon