What is this?
 

Hey there, was giving my Raleigh a look over... deciding what and what not to remove, and I came across this.. Can anyone tell me what it is? I took it off.. didn't find a need for it but just curious. Thanks!

It's a frame pump clip, used for holding a pump on the frame

is there a bottom part missing? this is the only piece that was on the bike

It's not missing anything. The pump would have sat on the bottom bracket and the clip held the top like this one:
http://farm4.static.flickr.com/3616/...41f6c938_o.jpg

ahh, now that makes perfect sense! I carry my pump in my camelbak.. know anyone who needs one?

not me, but you could keep it as trade bait or post it in the pay it forward thread if you don't want it.

definitely! I know there is someone out there that'll want it!

I'll take it!