Coming out from work today, I noticed what appears to be a cut / sheared wire hanging down next to the passenger side rear wheel. It scared the crap out of me at first, so I drove home very carefully, and took this pic:

Can someone tell me what it is, where it goes, how to fix it, and if it's ok to drive until I do fix it? It doesn't appear to be causing any adverse effects, so I don't know what to do.

Can someone tell me what it is, where it goes, how to fix it, and if it's ok to drive until I do fix it? It doesn't appear to be causing any adverse effects, so I don't know what to do.
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