The red part is the oil tank outlet fitting that goes on the bottom of the oil tank.
The other picture, with the red part, is the oil tank level sensor that goes in the top of the oil tank.
Here is a picture of where those rubber flags go on the 950. The right one is tucked in as it should be when you are riding. I pulled the left one out do you can see it.
The rubber piece surrounding where the pipe and exhaust manifold is should be in place as well. Anyone is free to correct me, since I'm new to the 950 motor, but the gasket in this area could leak and spray water directly into the intakes and damage the motor. The rubber cover over the gasket area would at least keep any leaks from spraying outward, the flaps also helped in blocking water from going into the motor.
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