This is the stock style heater return hose which runs from the black metal heater supply tube to the heater core outlet on your 1994-95 5.0L V8.
One one the most common sources of coolant leaks are your Mustang's radiator and heater hoses. These hoses allow coolant to enter and leave the radiator and heater core to both cool the engine, and to heat the interior of the vehicle. Over time these hoses can get hard and brittle and can crack or break. Give the hoses a feel. Hoses should not be excessively hard, brittle, soft, mushy, or swollen.
If they are, be sure to replace them as soon as you can with high quality replacement hoses from Latemodel Restoration Supply.
I live in Canada which makes getting parts more difficult due to shipping and availability. I decided to try late model restoration out as they are Canada shipping friendly. The order went smoothly and the parts arrived, and were exactly as i expected. Then a problem arose with one item. Now being in Canada this usually makes this a very painful experience to deal with due to the cost of shipping products back and forth across the border. Most of the time it is just easier and cheaper to just order a new one and cut the loses. Not in this case. I sent out an email with the issue and by the time I went outside to take a picture i already had a response. A new product was shipped out immediately. I could not believe how good the customer service was. This will be where i will get what i need for now on. Anyone can sell a product but it is nice to have a company stand behind what they sell. Thanks again.