And where does the pink/white cable go, and where does the other one go? I can't find it in the diagrams of the 73? It looks like the horn relays, could be?
I assume that's mounted to the rear of the driver's side shock tower? If so, that's the power window safety relay. It controls power to the power window system.
Here's the '71/72 schematic. Heavy Black w/yellow dots is the center. Purple w/Orange hash is shown on the left terminal. Relay should click when you turn the ignition to On or Accy, and have 12V at the opposite terminal. If not, swap them.
Right-o. Mustang horns don't have a relay. They're wired directly from the fused power source through the horn switch in the steering wheel. Oddly, my '73 F100 does have a horn relay!