Help identifying an unconnected wiring harness under steering wheel.

Does yor car have an automatic transmission? That might be for the Neutral Safety Switch, which is only on manual transmission cars. Ford tried to save money by having one dashboard setup for all its 94-95 cars. This is why the V8 cars have an OBD2 connector under the dash - Ford sells a lot more V6's than GT's or Cobras. If everything is working fine, I wouldn't worry about the connector. If it's not for the Neutral Safety Switch, it's probably used for something your car didn't come with.